Skip to Content
Farmers & Merchants Bank & Trust
  • 1-800-789-6617
  • Contact Us
  • Locations & Hours
Facebook Icon Menu
  • Home
  • Business
    • Commercial Loans
    • Business Checking Accounts
    • Savings & Money Market Accounts
    • eBanking
    • Business Credit Cards
    • Deposit Rates
  • Personal
    • eBanking
    • Checking Accounts
    • Savings & Money Market Accounts
    • CDs and IRAs
    • Deposit Rates
    • Fraud & Identity Theft
    • Galaxies Unlimited Kids Club
    • Horizons Unlimited Senior Club
    • Personal Credit Cards
  • Trust
    • Trust Services
  • Lending
    • Commercial Loans
    • Mortgage Loans
    • Consumer Loans
    • Personal Credit Cards
    • Business Credit Cards
    • NMLSR Numbers
  • About Us
    • Mission and History
    • Meet the FMBT Team
    • Careers
    • Security & Privacy
    • Hi-Q
    • Locations & Hours
  • Blog
Online Banking

Money Matters Blog

Home Blog 4 Steps to Buying a Home That Won't Bust Your Budget
  • Aa
  • Aa
  • Aa

4 Steps to Buying a Home That Won't Bust Your Budget

Posted On: June 25, 2019 by Farmers & Merchants Bank & Trust in: Budget Mortgages Save

  • 0 Comments
  • Facebook
  • Twitter
  • LinkedIn
  • Pinterest
  • Email
4 Steps to Buying a Home That Won't Bust Your Budget

It’s that time of year when you’re likely to see ‘for sale’ signs on every block. Maybe you already have your eye on one and go out of your way to drive past it on your way home from work. Before you leap into making an offer, take these four steps to be sure you can truly afford your dream home and everything that comes with it.

1. Understand Your Monthly Expenses

Alarmingly, many Americans don’t have a true understanding about what money they have coming out each month. This can be a dangerous territory to get into, as it’s likely that there are a significant portion of the expenses that may be unnecessary. Take the time to understand what each of your monthly expenses are and if any can be cut or lessened. Maybe there’s a subscription you’ve forgotten about or haven’t realized how much money you are putting towards name-brand groceries each month.

2. Know What You Can Afford

Once you have your expenses broken down, you will have more of an idea of what you have coming out. Next, you should understand what you have coming in. Account for each person’s income contribution for the home. Subtract your monthly expenses from the after-tax amount and you will have an idea of what you can afford. You’ll then want to meet with one of our experienced mortgage specialists! We offer a wide variety of mortgage loan options (including government loans – FHA, VA, and USDA). We make sure you’re not overwhelmed by the process and offer several loan options to be sure we have a solution for you!

3. Understand Home Buying Expenses

Being a homeowner comes with many responsibilities that sometimes can’t be accounted for. From broken pipes or a leak to a busted HVAC, the costs can be overwhelming at a moment’s notice. It’s important to understand the expenses that may come out of home ownership. Even if there isn’t something breaking, you have the responsibility of additional upkeep.

4. Set a Goal

Once you have a complete understanding of where you are and where you might be, you can set a goal. If the house you want is out of your current price range, make it a goal to be able to afford a home like this. Take a look at what expenses can be cut in addition to how you can earn additional income to get you to your goal within a reasonable time frame.

Don’t strap yourself into a payment that won’t fit your lifestyle. Allow us to guide you in the purchase your dream home with a mortgage from Farmers & Merchants Bank & Trust!

Tags: budget, home, home buyer

0 comments

Featured Blogs

  • Tom Maxwell and FMBT Receive Community Propel Award

    Tom Maxwell and FMBT Recognized by Marinette School District

    Categories: Community, General

  • Heath in hands

    COVID-19 Relief Grant

    Categories: Community, General

  • Random Act of Kindness Day 2020

    Random Act of Kindness Day 2020

    Categories: Community

  • Cybersecurity for Beginners

    Cybersecurity for Beginners

    Categories: Cyber Security

  • Categories
  • Recent
  • Archives
  • Budget
  • Community
  • Cyber Security
  • Family
  • General
  • Mortgages
  • Retirement
  • Save
  • Seasonal
  • Stay Safe Online While Holiday Shopping
  • Special, Yet Inexpensive Christmas Gift Ideas
  • How to Know if it’s the Right Time to Refinance
  • Finance Tips for Soon-To-Be Newlyweds
  • Most Common Money Mistakes to Avoid in Your 30s
  • 5 Steps Towards Tackling Your Student Loans
  • Smart Money Choices for First-Time Parents
  • Finance Tips Your Kids Should Know Before College
  • Tom Maxwell and FMBT Recognized by Marinette School District
  • COVID-19 Relief Grant
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • Personal
  • Business

Online Banking

Enroll Forgot Password?

Online Banking

Forgot password or PIN?
  • Deposit Rates
  • Order Checks
  • Financial Education Center
  • Contact Us

Popular Visited Pages

  • eBanking for Individuals and Families
  • Meet the FMBT Team
  • Locations & Hours
  • Contact Us
  • Your Hub for Hi-Q
  • Checking Accounts
  • Deposit Rates
  • Email Disclaimer
  • Mortgage & Home Loans
  • Careers at FMBT
  • Our Mission and History
  • Security & Privacy
  • Business Checking Accounts
  • Commercial Loans
  • Calculators

Contact Information

Ludington:  (715) 735-6617

Roosevelt:  (715) 732-4411

Crivitz:  (715) 854-7445

EZ Access Banking:  (877) 735-4228

Lost/Stolen Card?:  (800) 528-2273

Routing #:  075901037 *

* Not to be used for wire transfers. Please call us for wire instructions.

© 2021 Farmers & Merchants Bank & Trust. All rights reserved.
Privacy Policy | Terms of Use | USA Patriot Act | Website Accessibility Notice | Sitemap
Financial site created and powered by VGM Forbin.

  • FDIC Logo
  • Equal Housing Logo
Back to Top
Close
  • Home
  • Business
    • Commercial Loans
    • Business Checking Accounts
    • Savings & Money Market Accounts
    • eBanking
    • Business Credit Cards
    • Deposit Rates
    • Back
  • Personal
    • eBanking
    • Checking Accounts
    • Savings & Money Market Accounts
    • CDs and IRAs
    • Deposit Rates
    • Fraud & Identity Theft
    • Galaxies Unlimited Kids Club
    • Horizons Unlimited Senior Club
    • Personal Credit Cards
    • Back
  • Trust
    • Trust Services
    • Back
  • Lending
    • Commercial Loans
    • Mortgage Loans
    • Consumer Loans
    • Personal Credit Cards
    • Business Credit Cards
    • NMLSR Numbers
    • Back
  • About Us
    • Mission and History
    • Meet the FMBT Team
    • Careers
    • Security & Privacy
    • Hi-Q
    • Locations & Hours
    • Back
  • Blog
  • Search