- Customer Service
- About Us
Your Guide to Home Buying Part Two
Thinking about buying a home? Feeling overwhelmed with questions? Let us help you! In Part Two of a special Notes from the Nest three part series, we'll tell you just what you need to consider during the buying process.
A lender can help you determine the price range of a property you can afford and what loan program will best suit your needs. Affordability is determined by comparing your gross income (income before taxes and deductions are taken out) and your current monthly loan and credit card payments (ie: car payment, student loan, credit card payment, etc). General guidelines will allow 30% of your gross income to be used for your housing expenses (including taxes and insurance) and 40% for your total debt (housing expense and other payments). Here are a few options:
Watch for the next installment of our Notes from the Nest to learn what steps to consider after purchasing your home. And for more information about buying your future home, talk to a Horicon Bank Consumer Banking Officer today!