WHAT PRICE HOME CAN YOU AFFORD?

Most people use financing of one type or another to buy a house since they do not have the full cash you have for the initial investment, or down payment, plus the amount of mortgage you can afford according to your income and debt levels. 

My advice is to speak with a lender who will "pre-qualify" you. Pre-qualify means determining the exact price of a house you can afford, based on the amount a lending institution will approve for your mortgage. There are specific requirements and limitations set by the government regarding the source of your down payment and the amount you qualify for. Although these requirements are set to protect you, the consumer, many times they may limit your purchase. 

For this reason it is smart to find out all the requirements prior to shopping for a home.

• Home Ownership

• Most Commonly Asked Questions by Buyers

• What Price Home Can You Afford?

• Six Ways to Come Up With Your Down Payment

• Some Buyer's Options When Purchasing a Home

• Escrow Plain and Simple

• The Loan Process

• What is Title Insurance?

• What is Needed When Applying for a Mortgage?

• The Purchase Agreement

• Now that you've signed a purchase agreement, what's next?

• Buyer's List After the Contract is Accepted

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