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How much house or condo can you afford?

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Money Magazine has an Internet-based tool that helps you to answer this question before you start looking for your dream home or condo. While it is a nice tool, not all of the variables it uses may be the same as your lender’s, so be sure to ask your lender how much home or condo you can afford before looking for one to buy, and remember that your lender may not even advise you on some creative financing techniques that are sometimes available, such as getting the seller to hold a second mortgage. Click here to check out the tool.

-John Mudd
“Mr. Real Estate”

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