If you’re searching for a new house, don’t get fooled into purchasing a Santa Cruz home you can’t actually afford. Many new homeowners find themselves in a pickle when they fall in love with a property that has high monthly mortgage payments. Being house poor could lead to a confining quality of life, increased stress and possibly foreclosure.
Before buying a Santa Cruz home, do your research to determine all the actual costs involved with purchasing and owning the home. Without the proper tools and budget, you could be biting off more than you can chew.
Here are four tips to help you get a manageable mortgage:
1. Save up – If you’ve saved and can provide a large down payment, you’ll be able take out a smaller loan, which will result in lower monthly…