The first step in getting yourself in financial shape to buy a home is to know what you make and what you spend now. Make a list of your expenses and your income using the information below as a guide.
Take-Home Pay for all family members
Add up your total income to see what you have available to spend every month.
Homeowners or other Insurance
Other Loan Payments
Credit Card Payments
Personal Care Products
Restaurant/Food Prepared Outside the Home
Add up your total expenses to see how much excess income you have left over every month.
This information is reprinted from Realtor Magazine Online by permission of the National Association of Realtors. Copyright 2005. All rights reserved.