Home Buying in San Marcos>Question Details

J.P., Home Buyer in Tampa, FL

How do I figure out what home I can afford in San Marcos?

Asked by J.P., Tampa, FL Mon Apr 23, 2007

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6
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1 vote Thank Flag Link Fri May 11, 2007
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 with the best information regarding what you can afford and feel most comfortable with.
1 vote Thank Flag Link Mon Apr 23, 2007
It's a simple question and should deserve a simple answer....Rule of Thumb. Assuming a 20% down payment, your loan amount should be a ratio of 3 times your gross income. This is a very conservative number and happens to be the Fannie Mae and HUD recomended ratio. This has got nothing to do with getting together with the best Realtor...
0 votes Thank Flag Link Mon Nov 15, 2010
By surrounding yourself with professionals who know the market and the area, you will find a home you love and can afford. Work with a lender and real estate agent you trust and who will add value to your transaction. Prior to looking at your first home, find a lender. Get preapproved and let your lender know how much of a monthly mortgage payment you are comfortable with. Many times you will get preapproved for a loan that would put you in a tight monthly situation. You never want that. Once you have your preapproval in hand, discuss your criteria with your agent. Let him/her know what you want. Surrounding yourself with a dynamic lender/realtor team can make dreams come true. Good luck.
0 votes Thank Flag Link Wed Jul 2, 2008
Call Charla Rueda at CountryWide Home Loans. She is an experienced professional who can give you advice on loans and help you with any credit issues that may improve your loan rate. (760) 233-6500.
0 votes Thank Flag Link Tue Jun 24, 2008
I like your Dog, I have a English Bulldog, I think you know the answer to the question. You will enjoy the home buying process, but you will have some questions to ask yourself. Your budget, your down payment, your income potential, your credit score, and a fixed rate or an Adjustable rate. Most buyers are payment driven, once you have that in mind, as a Lender I can work backwards towards your purchase price and loan amount. Call I'll walk you through it, Chris Davis State mortgage 602-686-9752
0 votes Thank Flag Link Tue Jun 3, 2008
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