For us, this is an easy question, simply because we're not the ones you need to talk to.
Mary and I are experts in residential real estate. We can help you find, and buy, the home that's just right for you and your family. We''ll get you through the home buying experience with a minimum of hassle and a maximum of clarity, and we'll make it fun in the process.
But before we can get started on the search, you'll have to talk to a lender, and one of the most important reasons why is to get an answer to the question above. In strict confidence, they'll take a look at your financial situation, and based on what's happening in the financial world today, they'll tell you how much of a mortgage you'll qualify for, along with how much money you'll need for a down payment, and what your closing costs are expected to be. They'll explain how much your monthly payment will be and go over any other conditions of the loan.
Once you know what the lender can do, you're almost ready to get started. There's just one detail left, and it's an important one. Sit down and look at the lender's numbers again. Pay particular attention to two of them: How much money will you need to get into a home? And how much will your total monthly payment be? Ask yourself if these two numbers work for you?
Sure, the bank will lend you that much. But you want to think about whether that obligation will require significant changes in your lifestyle. Will it leave enough for other things you might also consider important, such as family vacations, entertainment and savings? Are you comfortable looking at those numbers?
If the answer is yes, then let's get started looking for your perfect home. If not, then fiddle with the numbers until you get them to the point where you are comfortable, and that's where we'll begin our search. We'll still find you the perfect home.
Now if you had asked us instead where to find a great lender, that's one we can definitely answer and it's also easy. Give us a call and we'll be happy to recommend someone you can count on to be professional, responsive, diligent, competitive and completely reliable - we'll recommend the same lender we use, and we guarantee you'll be pleased.