Question:
I'm 23 and trying to start out my life by buying a home on my own. Any suggestions?
I need to know the rules of buying a house and what I could possibly afford. I only make 48,000 a year and have 10,000 saved up so far... What can I buy? and How do I do it?
Answer:
You need to contact a mortgage lender and see if you qualify. They will determine how much money you can borrow and at what terms. Just because someone tells you that you can borrow X amount of dollars you have to determine whether you are comfortable with the payment, not because someone says you can get that amount of money.
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