Procedure for Purchasing a Home in Connecticut
Have a realistic knowledge of your buying capacity. A general guideline for Connecticut lending institutions is: Principal plus Interest plus Taxes plus Insurance should not exceed 28 to 30 percent of your Monthly Gross Income. Total indebtedness (a commitments of six months or longer) should not exceed 36 percent of your monthly gross income. This is only general guideline. There may be exceptions. Your Realtor will be able to give you more details.... [Read More...]
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