The Real Estate Browser Volume 8, Issue 12 - Page 21

20 — Say you saw it in The Real Estate Browser of Lynchburg — Volume 8 Number 12 www.LynchburgRealEstateBrowser.com Buying a Home: How to Know How High to Go (StatePoint) Shopping for a home? Before you begin your search, it’s important to figure out what you can comfortably afford. “The interesting thing about home- buying is that it isn’t a one-size-fits- all process,” says Mike Dawson, Vice President of Single-Family at Freddie Mac. “After all, it’s your budget and these are your housing needs. Doing your homework to figure out what those needs are is the critical first step.” Before you start shopping, learn how much you can borrow. Free online resources, such as Freddie Mac’s “How Much You Can Afford” calculator, found at calculators.freddiemac.com, can help you get a handle on this fig- ure during the preliminary stages of your search. This estimate is based on income, fixed monthly payments such