If you’re about to embark on the incredible journey of homeownership, then there are a few things you need to know. SWE Homes is a real estate and financing company that operates out of Houston, TX and specializes in helping people buy homes across Georgia and Texas.

Their real estate specialists know all of the ins and outs of financing a mortgage, and they have created this amazing guide for anyone looking to purchase a home. It is a good starting point for people who are just beginning the research process and are trying to figure out just how much home they can afford:

Consider your current costs. A good place to start the budgeting process for buying a home is with your current costs. Figure out your monthly housing costs and think about whether your budget is comfortable, could stand to be lower, or could be stretched considerably. You need to have an idea of all of your living costs, including transportation, food, recreation, etc., to help give you a full picture of your financial situation.

Take future changes into account. Many people try to stretch to the very top of their budgets when they purchase a home, but that’s not a smart plan. Consider that you might not always make as much money as you currently make or that your family may grow and require a higher monthly budget to run.

Determine a set monthly price range. Once you’ve looked over your financial information and considered worst-case scenarios, you should decide on a monthly cost range that you’re comfortable paying on your mortgage. There are many online calculators to help you work backwards and figure out how much your monthly cost range should be.

Apply for financing. Don’t be surprised if you’re approved for far more than the top of your decided upon budget—this happens a lot. It’s always best to stick to what you planned on prior to applying because only you know what you can really afford!

To find great homes for sale with no credit needed and owner financing, call SWE Homes today at (713) 413-1000.

SWE Homes, LP, Residential Mortgage Loan Originator NMLS# 341112