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How Much Home Can You Afford?
Posted 11-06-2009 at 10:26 AM by Mark Brian
I get many inquiries from people looking at my listings and often they ask the same types of questions. Questions regarding what the monthly payments will be for the home they are interested in, how much they need to put down for a certain home. This is a sign to me that they have started looking to purchase a home with out taking some of the important basic steps that need to be done BEFORE starting to look.
The first logical step is figuring out your budget. What you can afford depends on your income, credit rating, current monthly expenses, down payment and the interest rate. It is best to visit a lender to find out for sure, but you can get a general idea by visiting How Much Home Can You Afford? Don't worry it is a no hassle, government based website, not some kind of lead generation device I might use to get your contact information. Besides, if you are just getting to this step, there is no reason for us to talk yet. Until you have talked to a lender and had them get you a pre approval letter, and discussed what loan amounts equal what monthly payment, I would just be wasting your valuable time showing you homes that might not be in your budget.
Another good place to visit to determine if you should buy is this webpage to Determine if You should Buy or Rent? Another great place for a home buyer with questions to visit is Homeownership Assistance Programs: South Carolina. It has links and information about various government programs that may be able to provide assistance with buying a home in SC. Also check out Housing Counseling: South Carolina.
Of course part of buying a home is the mortgage. We have all heard the horror stories in the news about people that were the victims of predatory lending. Visit this website to learn about Predatory Lending. It is a shame I even have to mention it because you would think the government would have enacted laws to protect consumers from these types of problems. There were tighter lending standards in the past, but they were loosened to help more people buy homes. Sadly, some lenders took advantage of this and made alot of money by giving out mortgages that were questionable, but that is a topic for another blog. But if you or a friend or family needs help with a foreclosure issue, please visit Avoiding Foreclosure in SC.
As you are going thru the steps to becoming pre approved, I would suggest visiting my website to see SC Homes for Sale and just browse the MLS. See how much money people are asking for different homes. Also check out the educational articles at the bottom of the home page. Educate yourself so you are a empowered home buyer.
If you have any questions please do not hesitate to call or email me. I am always ready to try to help answer your housing questions.
The first logical step is figuring out your budget. What you can afford depends on your income, credit rating, current monthly expenses, down payment and the interest rate. It is best to visit a lender to find out for sure, but you can get a general idea by visiting How Much Home Can You Afford? Don't worry it is a no hassle, government based website, not some kind of lead generation device I might use to get your contact information. Besides, if you are just getting to this step, there is no reason for us to talk yet. Until you have talked to a lender and had them get you a pre approval letter, and discussed what loan amounts equal what monthly payment, I would just be wasting your valuable time showing you homes that might not be in your budget.
Another good place to visit to determine if you should buy is this webpage to Determine if You should Buy or Rent? Another great place for a home buyer with questions to visit is Homeownership Assistance Programs: South Carolina. It has links and information about various government programs that may be able to provide assistance with buying a home in SC. Also check out Housing Counseling: South Carolina.
Of course part of buying a home is the mortgage. We have all heard the horror stories in the news about people that were the victims of predatory lending. Visit this website to learn about Predatory Lending. It is a shame I even have to mention it because you would think the government would have enacted laws to protect consumers from these types of problems. There were tighter lending standards in the past, but they were loosened to help more people buy homes. Sadly, some lenders took advantage of this and made alot of money by giving out mortgages that were questionable, but that is a topic for another blog. But if you or a friend or family needs help with a foreclosure issue, please visit Avoiding Foreclosure in SC.
As you are going thru the steps to becoming pre approved, I would suggest visiting my website to see SC Homes for Sale and just browse the MLS. See how much money people are asking for different homes. Also check out the educational articles at the bottom of the home page. Educate yourself so you are a empowered home buyer.
If you have any questions please do not hesitate to call or email me. I am always ready to try to help answer your housing questions.
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