Note, that if you find a HUD home or foreclosure with a much higher county assessed tax value, this would drastically lower the loan amount.
Please feel free to contact me directly for follow up questions.
You should contact a loan officer that can preapprove you right away so you do not waste any time looking in the wrong price range.
National Featured Realtor and Consultant, Mortgage Loan Officer, Credit Repair Lecturer
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I am a Realtor and too far away to assist you other than to give you referrals to Realtors that I know that would also put you with Loan officers. The reason I start with this is that I am going to tell you that if you are reluctant to call a loan officer until you know a little more about what you can afford you can go to my web site and there is a place where you can pre qualify your self as to payments. Only a loan officer can fine tune that because there will be other factors that come into play.
Your FICO will have to do with you interest rate on all loans except the FHA loan.
The insurance, POA dues and Taxes will have to do with the final payment so you will want to watch areas where the MUD taxes and/or POA dues are high, but this will give you an idea of what you are talking about.
Do not contact a website lender, contact a local person or a person your Realtor refers you to so that you have a real relationship and hopefully are not overcharged.
A visit with a lender should provide you with better understanding of this. Our recommendation is to speak with several different agencies and request a "good faith estimate" from each.
A good faith estimate is simply a written account of the rates and programs the agent quotes you.
This is a great time to be considering purchasing property.......
The Eckler Team