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Can you afford to buy a home? Can anyone?

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Home prices in the U.S. have been getting less and less affordable. Is there hope?
The article from WGME discusses the financial considerations of buying a home, emphasizing the importance of assessing one's financial readiness before making such a significant investment. It outlines key factors to consider, including the down payment, closing costs, monthly mortgage payments, property taxes, insurance, and maintenance costs. The piece also highlights the importance of a good credit score to secure favorable mortgage rates and advises potential buyers to get pre-approved for a mortgage to understand their borrowing capacity. Additionally, it suggests creating a budget to ensure that homeownership does not strain one's finances and recommends saving for an emergency fund to cover unexpected home-related expenses.

Read the Full wgme Article at:
[ https://wgme.com/money/mortgages/can-you-afford-to-buy-a-home ]