FYI: WHAT SORT of house should the author buy? Her first consideration was budget. While she's been preapproved for a $403,000 loan, she knew she wasn’t going to borrow that much. Doing so would mean spending well over half her net income on her mortgage. Instead, she figured out how much cash she had for a down payment—$80,000—and then decided to take out a loan of not more than $300,000. That way, she would be making a 20% down payment and could avoid buying private mortgage insurance.
Regards,
Ted
https://humbledollar.com/2018/10/heading-home-part-3/
