Found a nice home but super scared- need advice

So me & FH were driving around looking for homes and I think we found our dream house.

Now my wheels are spinning! I cant put a number on how much we can afford because we both are self employed. It can drastically vary year by year.

So, thats making me uneasy.
But the house itself is definitely priced right!

I've been looking at all these mortgage qualifier calculators and wonder, just because we would qualify for a mortgage, it doesnt necessarily mean we could afford that amount.

Also, we have money saved but Im not sure what we will need for furniture, etc. So, how much cushion do I leave myself after a down payment??

So sorry, so many questions and I dont know where to start.

Re: Found a nice home but super scared- need advice

Have you gone to a mortgage lender to get preapproved? I would start there because that will give you an idea of what you qualify for. You will also want to keep some money set aside for the closing costs if you are paying those upfront, moving expenses, furniture, unexpectred stuff (i.e. furnace breaks 2 months after you own the home), general emergency funds, and living funds. After that, what is left over can be put towards your downpayment. You also don't need to get all your furniture at once. So long as you have a bed and a place to sit and eat you can get the rest of your furniture gradually. It is difficult, but we are all there. Good luck.

Message edited 1/9/2006 11:52:14 AM.

Re: Found a nice home but super scared- need advice

Re: Found a nice home but super scared- need advice

You have FM