Budgeting
Many lenders qualify you for the maximum mortgage amount that you can qualify for with your debt to income ratio. My suggestion is to put together a budget and figure out what you comfortable paying every month for a mortgage. Here are some quick guidelines to help you get started:
Utilities- gas, electric, water, sewer and trash
Cable
Phone- land lines and cell phones
Credit Card Payments
Car Payments- currently and/or future expense
Groceries
Fuel
Mortgage- house payment
Student Loans
Entertainment
A good resource for managing your money is http://www.mint.com/
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