Buying a home will probably be the most expensive and important purchase you will ever make. You need to research, plan and have patience to make a successful purchase. Most people need to borrow finance to buy a home.
You should:
• ask lending bodies (ie. banks, building societies, credit unions, cooperative housing societies, mortgage originators/managers and insurance companies) how much you can borrow, and when
• calculate what you can afford to spend by adding the amount you have saved with the amount you can borrow • allow for lender fees, duty, legal and moving costs.
