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Financing in Cranberry Township : Real Estate Advice

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  • Local Info1
  • Home Buying17
  • Home Selling0
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Activity 3
Wed Nov 13, 2013
Liz Hartman answered:
It is very helpful to have you're pre-approval, but not necessary. There are agents and sellers that require a pre-approval prior to showing homes. To be quite honest, when it comes to making an offer on a home, Sellers and Agents will take your offer seriously if they know you're in a position to buy their home. The market is hot, and you don't want to lose your opportunity! I recommend getting your pre-approval prior to looking for your home. You will know what your borrowing power is, and what your comfort level is. Howard Hanna has a financial department that will do this at no cost, and with no commitments to use their financing. Although, our clients usually follow through with Howard Hanna for their financial needs. Please call me. I look forward the hearing from you lizhartman@howardhanna.com 724-822-2259 Text or Call. ... more
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Thu Dec 1, 2011
Luther Wormack answered:
Hi Ineedanewhome,

That's a conversation you need to have with your agent. Typically you won't be able to re coupe the charges for the Home Inspection.
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Tue Mar 15, 2011
Alan Openshaw answered:
Hello Fallon,

Front and back end ratios is two types of debt expressed as a percentage os your GROSS monthly income.

The front end ratio is the sum of your monthly mortgage payment including taxes and insurance ( Principal interest taxes and insurance or PITI) as a percentage of your gross monthly income.
If you make $10,000 per month and your payment is $2,000 your front end ratio is 20%.

The back end ratio takes the sum of your PITI and the minimum monthly payments on your credit cards, your car payments, your student loans and any other monthly debt that shows on your credit report, then expresses that total as a percentage of your gross monthly income.


If in the above example you have two $500 car payments and $500 per month in credit card and student loan payments, your back end ratio is now $3500/$10,000 which is 35%.

Call me and I'll tell you what you can afford.

Best Regards,
Alan Openshaw
Cornerstone Lending Inc
720 Second St Pike Suite 104
Southampton Pa 18966
Office 215 953 0800
Fax 215 953 1706
Cell 267 992 7276
Voted Best of Bucks 2010
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