If you are one of the many people who have plans to purchase something in the near future while rates are low and great deals are abundant, keep in mind it is important to remember that all properties are not created equal. Being qualified for 200K home is not a one size fits all approval. Taxes, insurance, HOA fees and properties being in a flood zone can vastly change the monthly payment of your new home and what you qualify for. Just a tidbit of knowledge from your local mortgage guy. (www.LendingHappens.com)
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