How do I figure out what home I can afford in Carlsbad?

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

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Bill Hays, Agent, Cardiff, AL
Fri May 6, 2011
Love the Dogster Webpage - very informative....

This question is an example of why Trulia should archive questions. IT"S FROM 2007! More than 4 years ago. HELLO PEOPLE!!!
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Rick Ungar, Agent, Encinitas, CA
Thu Apr 28, 2011
Your best approach is always to contact a reputable mortgage professional, whether it is a mortgage broker or direct lender, and have them run your credit and let you know what loan amounts will work for you. We always suggest that this be done before looking at any homes so you will not suffer the disappointment of falling in love with a home you can not finance.

Rick Ungar
Keller Williams
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Anastasia Sc…, Landlord, Carlsbad, CA
Thu Apr 14, 2011
Carlsbad’s tax rate is around 1.02 so you can factor that cost when plugging the numbers into a calculator, consider what your Insurance will be also. Are you looking at a home with a pool? If so, your insurance may be higher. There are many factors to consider. Many homes in Carlsbad have HOA fees and Mello Roos fees so factor those in. If you are comfortable with a payment of $2500 there could be a $100K difference in the price of the home that you can afford depending on those fees. Make sure that the Agent you are working with is knows the area well.
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James Baker, , 92008
Fri Aug 17, 2007
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.
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Jeff Dowler, Agent, Carlsbad, CA
Fri May 18, 2007
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).
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Eliot Rachman…, Agent, Carlsbad, CA
Tue May 15, 2007
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.
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Roberta Murp…, Agent, Carlsbad, CA
Sat May 12, 2007
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!
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Alan Shafran, Agent, Carlsbad, CA
Mon Apr 23, 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 wih the best information regarding what you can afford and feel most comfortable with.
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