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Buying Your First Home
Buying a home can be complicated for anybody but can be especially challenging for the first-time homebuyer.
At Penn Community Bank, we’ll help you prepare for the home buying process so you can instead focus on the future and memories you will build in your new home and the exhilaration of a meaningful investment. We have the resources and abilities to get you one step closer to purchasing your first home, a big step for you and your family.
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Picking the Right Home Beyond desires like location and size, when buying your first home the most important thing to consider is how much you can afford. A general rule of thumb is that your home should not cost more than three times your annual income. Per month, total debts owed (including mortgage payments) should not be more than one-third of your monthly income before tax and other deductions.