📌 Lenders prefer that your housing costs don't exceed 28% of your gross monthly income, and your total debt payments don't exceed 36%.
Possible with conventional loans or FHA loans (3.5%), but you will pay extra for monthly mortgage insurance. 2. Closing Costs (2% to 5%) how much money should you save before buying a house
Avoids private mortgage insurance (PMI) and lowers your monthly payment. 📌 Lenders prefer that your housing costs don't
