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Asked by Gracewatts Thornton, Indianapolis, IN Tue Mar 5, 2013

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Answers

7
Dennis Walte…, Agent, Indianapolis, IN
Thu Mar 7, 2013
Hi Grace,
Give me a call and I'll help you with identifying the target range for a mortgage and where the best rates for that range are at.
My contact information is below.
Thanks,

Dennis Walters
Dennis Walters Real Estate Group, Inc.
dennis@denniswaltersrealestate.com
317-414-0522
0 votes
Marita Topmi…, Agent, Indianapolis, IN
Wed Mar 6, 2013
Hi Grace,

That doesn't sound right. Give me a call and I'll double check the figures
for you. There are also grant programs you might qualify for.

Marita
317.513.4652
0 votes
Kathy Sloan…, Agent, Zionsville, IN
Tue Mar 5, 2013
Hi Grace....I would be happy to help you figure this all out and get you into a new home! Feel free to text/call me tomorrow, (317)503-0532 and we can work it out!
Take care
Kathy
0 votes
Julie Barnett, Agent, Lebanon, IN
Tue Mar 5, 2013
The calculators are right if you are using a good one, Grace. I assume you are using the one on Trulia, so I think it is reliable. There is something that is missing in your question. "Years ago" I suspect the interest rates were higher than they are now, since they are at an all-time low. (Unless you were calculating the previous mortgage years ago on an adjustable rate mortgage or something.)

A lower interest rate makes homes even more affordable than ever before, the problem is that many people don't have the required 20% down, or even the 3.5% down that an FHA loan requires. If you made less then, when you did the calculator, perhaps you have much more debt now. Or, another possibility is that you didn't do the calculator correctly the previous time.

Whatever the problem is, I suggest you talk to a lender to see what they tell you is a viable amount that you may be able to qualify for in a mortgage loan. You can start with the financial institution that you usually use, or give me a call and I would be happy to refer you to some reliable lenders.

Julie Barnett, (317) 847-0055
0 votes
Mark Groff, Agent, Carmel, IN
Tue Mar 5, 2013
Talk to Bill Morris of Milestone Mortgage (317-595-9600 x=103 or billmorris@milestone-mortgage.com).
0 votes
Joe Mann, Agent, Indianapolis, IN
Tue Mar 5, 2013
Hi Gracewatts,

I've never used Trulia's mortgage calculator. I went ahead and got a free app for a mortgage calculator on my phone - Simple Mortgage Payment from Bijou Finance. I agree with Nina though; you should talk to a mortgage professional since your interest rate & payment will change based on your unique situation.

Hope that helps...
0 votes
Nina Williams, Agent, Avon, IN
Tue Mar 5, 2013
You should speak w/a loan officer to help determine what your buying power is. Erika Fisher of Stonegate Mortgage is good w/homebuyers. 317-847-5341
0 votes
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