Can You Afford That Loan?

• 11/6/2018

Not sure if you can afford a loan payment? Here’s how you’ll know: take the payment in question and deposit it into a savings account for six months in a row. It may take a little more time, but if you can do it for six months, you’ll know you can handle the payment. As a bonus, you’ll have half a year’s payments already saved. Put that towards your down payment, and you’ll bring down the total amount of your loan!

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