Budget Sample

Budget Sample

Preparing a Budget
Download the BUDGET FILE and gather the numbers needed to create your CURRENT BUDGET. Once completed, Analyze your finances asking yourself these questions: Where am I spending my money? Should I modify my spending habits? How can I pay down and/or erase debt? Am I saving for an emergency and for my future? Be happy with your budget before you proceed to the next step.

Now go to the next tab which is your NEW BUDGET. Replace the figures to considering the cost of your new home. You will also need funds available to make the purchase. This can vary and depends on your lender, loan program, and purchase price. You can ask the Seller to pay for these, basically, including the cost within the purchase price. How much down payment will be required? Again this depends on your loan program. The amount needed would be the % of the purchase price; VA = typically 0%, USDA or Rural Housing = 0%, FHA= 3.5% and Conventional = 5% plus. What other expenses will I need to plan for? The lender may request an application fee and the appraisal fee upfront. This cost will vary but I would budget $1,500. Inspections will range from $600 – $1,500 depending on the size of the home. The cost of these services are paid at the time the service is rendered.