Don’t Be Fooled By the Monthly Mortgage on Your Huntsville AL Home

By: Huntsville Real Estate Expert Mike Manosky On September 20, 2011

If you’re searching for a new house, don’t get fooled into purchasing a Huntsville AL home you can’t actually afford. Many new homeowners find themselves in a pickle when they fall in love with a property that has high monthly mortgage payments. Being house poor could lead to a confining quality of life, increased stress and possibly foreclosure. 

Before buying a Huntsville AL home, do your research to determine all the actual costs involved with purchasing and owning the home.  Without the proper tools and budget, you could be biting off more than you can chew. 

Here are four tips to help you get a manageable mortgage:

  1. Save up – If you’ve saved and can provide a large down payment, you’ll be able take out a smaller loan, which will result in lower monthly payments.
  2. Check on interest rates – Talk with several lenders to compare interest rates. Also, improve your credit score before purchasing property because your credit score partially determines your loan’s interest rate.
  3. Decide on the length of the loan – The length of your loan impacts your monthly payments. The shorter the time, the larger your payments will be. Use a mortgage calculator to find out what your monthly payments will be if you go with a 30-year loan versus a 15-year loan.
  4. Don’t forget the last-minute costs – Put some extra money aside for any additional expenses that come up during the actual purchase, such as closing costs, taxes and homeowner’s insurance.

Save up a down payment for your Huntsville AL home, get pre-approved for a loan, know your limit for monthly mortgage payments and don’t get fooled by the real estate market. Doing the research before you start looking for a house will reduce your stress and help to ensure you have manageable mortgage payments.

If you need help calculating what your maximum mortgage payments should be or have any questions about purchasing a home, contact me anytime.


Having lived in the Huntsville AL area for most of his life, Mike Manosky understands exactly what makes this community special.  In fact, those who know him well will tell you he carries the same traditional values and focus on the future as Huntsville. 

Mike brings with him a keen eye for the details of buying or selling a Huntsville AL home and seemingly boundless determination and energy, which is why his clients benefit from his unique brand of real estate service. Rooted in Tradition, Focused on the Future – Mike Manosky will help make the most of your Huntsville AL real estate experience. Give him a call today, 256-508-0211 Direct or 800-803-0053 Toll Free, and discover the difference he can make during your family’s move.

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