Are you ready to buy a house? Take our quiz and find out.
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on a typical 30-year loan. And they are unlikely to drop significantly this year. Even those who can swing an all-cash purchase, experts say, still have plenty of other expenses to consider, including maintenance and insurance.” class=”wpds-c-hcZlgz wpds-c-hcZlgz-bkfjoi-font-georgia wpds-c-hcZlgz-jDmrXh-width-mdCenter wpds-c-hcZlgz-ibdLmgo-css”>In the past three years, mortgage rates have more than doubled and are now at nearly 7 percent on a typical 30-year loan. And they are unlikely to drop significantly this year. Even those who can swing an all-cash purchase, experts say, still have plenty of other expenses to consider, including maintenance and insurance.
Question 1 of 9What type of home are you looking to buy?
Question 2 of 9What is your living situation?
Question 3 of 9How would you characterize your financial situation?
Question 4 of 9How much do you expect to have for a down payment?
Question 5 of 9What is your credit score?
Question 6 of 9How much debt do you have? Include credit cards and student, auto or personal loans, etc.
Question 7 of 9How much are you willing to pay for a mortgage rate?
Question 8 of 9How do you expect your mortgage payment to change your existing budget?
Question 9 of 9How long do you plan to own this home?
You need to answer every question to see your result. You’re missing questions 1, 2, 3, 4, 5, 6, 7, 8 and 9.
Editing by Karly Domb Sadof, Rivan Stinson, Betty Chavarria and Robbie Olivas DiMesio.
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This article was originally published by a www.washingtonpost.com . Read the Original article here. .