Do you have the perfect home in mind, but you're not sure how much it will cost? While it's not the flashiest or most fun part of buying a home, your budget is probably one of the most important pieces for your home search. This will sometimes dictate the area, number of bedrooms or baths, size of your yard or lot, and many more factors that come into play with home values and prices.
If you're not sure how much you should spend on a house, it's always best to consult a mortgage specialist. We have trusted lenders that we work with all the time, who help clients navigate the waters of this crucial step everyday!
Lenders are there to first, loan you the money for your new home, but there are a ton of protections built in to ensure you don't buy a home you can't afford. They'll check your credit score, explore your existing and potential debts, and when you're ready to buy a home they will be certain that the home is worth the amount that you're borrowing.
Your credit score is like your health, it's never too late or too often to check on it or improve it! A better score can help in a lot of ways, and if you have a lower score, our specialists can direct you to the path to fixing it so you can get the home of your dreams sooner. Your debt to income ratio is crucial also, it will be taken into calculation so that you can afford to pay all of your bills.
Lastly, a down payment is very important. 20% down will eliminate the need to pay monthly insurance on the loan, but that is a big chunk of change. Often, a down payment can also be used to bridge any gap between what a home appraised value is vs what a buyer is willing to pay. There are also some other loan types to use, and a mortgage specialist is the best place to get this information.
Hello! My team and I are passionate about helping people build stability and wealth through solid investments in real estate, either for their personal residence or for investment purposes. We also LOVE to market and SELL your existing property to maximize your return and make the process as smooth as possible for you. Give us a shout today for a relaxed conversation about your real estate goals!
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"John came highly recommended, and sure enough within 24 hours we had multiple offers on our house ALL ABOVE ASKING PRICE!! John was an incredible negotiator and didn't give up one penny we didn't have to. He kept us in the loop on what mattered and didn't bother us with the small stuff. He completely earned our trust early in the game, and we felt like VIP's during the entire process. We have moved out of state, and after meeting with three top realtors we realized John set the bar WAY high... no one comes close!"