Bowman Realty

Cost of Buying a Home

Cost of Buying a Home

What Can You Afford to Spend on a Home? 
The best approach in buying a home is to first understand how a home is financed. There are three crucial elements:

  1. A down payment
  2. Closing costs
  3. The mortgage

When you know the amount of down payment and closing costs you can afford, and how much mortgage money you will be able to borrow, you can know how much home you can buy. [...]


Benefits of Home Ownership

Through home ownership, the money you pay for shelter every month will be an investment in your future, not someone else's. Each mortgage check you write will build equity - the difference between what your home is worth now and what you paid for it. [...]