If you ask a mortgage professional or a Realtor about how much you can afford for any home you will get the answer that a Bank that will eventually buy up your loan has determined that you can afford and (odds on) still make the mortgage payments. Some loan brokers and their lenders will accept more risk and tell you a greater amount and charge you more interest. Before you talk with them, write down all your present, necessary, housing expenses, such your present mortgage or rent, including utilities etc. Then figure out how much spendable money you have left over at the end of the month and still be happy. Those two figures will determine how much of a mortgage payment & utilities you can handle. If you are putting a goodly amount in the bank every month part of that too could be added. You can also factor in the raise that starts next month. Now you can tell the loan Broker, the Realtor or the Banker that you can afford that much. Remember that figure and question anyone who says it could be more. Now you are ready to talk to a lender you might know already, he'll give you an answer for how much mortgage money you qualify for with that payment rate. That amount plus your down payment and some money for escrow is how much the home value can be. Then ask a Realtor about homes in that price range in Carlsbad. He'll be happy to tell you. He has loan Brokers that he knows too, so get their opinion to keep the first guy competitive.

Fri Aug 17 2007, 12:16

JP - Speaking to a qualified mortgage broker who has a number of programs available is an important first step. However, you must also take time to seriously look at your own monthly budget, since many of your personal expenses (sports, travel, memberships, etc.) may not be considered by the bank. What the lender says you can afford and what your personal budget says you can afford could be vastly different. You do not want to be house poor and live from check to check. If you need more information, feel free to contact me 750-840-1360 (direct).

Fri May 18 2007, 13:27

Your agent can refer you to a qualified mortgage professional. They will be able to look at your income, downpayment and other financial information, and determine what you can afford for a monthly payment. After that, your agent will show you Carlsbad homes in that price range. Call me today for more information 760-828-4474.

Tue May 15 2007, 14:20

JP: Meet with a reputable lender, who may or may not be a Realtor referral. I generally suggest not using affiliated lenders (owned by real estate companies). You will probably find more competitive terms outside the affiliated mortgage arm. If I can be of any assistance, please feel free to call me at 760-402-9101. Good luck!

Sat May 12 2007, 08:55

The first step is to interview the most highly qualified realtors you can find in the city. Once you choose the one to work with, they should have an established relationship with a lender both they and you trust. It is critical that this lender is accountable to both you and the real estate company for future business. The lender will then be able to help provide you wih the best information regarding what you can afford and feel most comfortable with.

Mon Apr 23 2007, 15:51