I want to buy my first house, but I live in an expensive area and I don’t want to end up house poor. What can I do to lower my monthly mortgage payments? —Frank

The leap into homeownership is a big change, especially on your finances.

Buying a home is likely the biggest purchase you’ll ever make, so it’s important to keep your payments in line with what you can afford.

When your mortgage eats up too much of your budget, it can affect your long-term financial security by limiting your ability to save for retirement, pay down debt or follow other dreams like traveling or starting a business.

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