do you have homes for sale where it would go by your income on what you would be paying monthly?

Asked by Stefanie, Uniontown, PA Thu May 6, 2010

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Keith D Myers, Agent, Uniontown, PA
Fri May 7, 2010
Hi Stefanie,

There are several home buyer assistance programs available on specific homes throughout the Uniontown, PA area. The basic guidelines fall under the home buyers income levels with the program offering up to 17% forgiveable and/or deferrable down payments plus the program pays the buyers reasonable closing costs! Depending on the type of mortgage loan you as the home buyer choose & qualify for, would be the basis for your monthly mortgage costs. Please feel free to contact me should you like more information on the homes available in the assistance program.

Warmest Regards,

Keith D. Myers, Broker/Owner
Howard Hanna Myers Real Estate Services
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Dan Tabit, Agent, Issaquah, WA
Thu May 6, 2010
Deborah is correct, but there is more to it than just payment. A mortgage payment is tax deductable, so if you are currently paying $1200 per month in rent, you may actually afford a higher mortgage payment and have the same budget impact. There are various rent/buy calculators on the web, they are all based on different assumptions but worth knowing about.
The best way to work all this out is to start with a lender and get pre-approved for a loan. You don't need to have the property you want to buy picked out.
When I do this for my buyers, (I'm a licensed mortgage lender and Realtor) we end up with a range of ideas of how much home you can buy based on payment, loan program, down payment and other expenses. It all has to work together. Find a local mortgage broker and or ask your Realtor for a referral for one and see where you end up.
Good luck home buying.
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Deborah Madey, Agent, Brick, NJ
Thu May 6, 2010
It isn't the home that dictates the monthly payment, but the terms of the loan.

Also, there are programs for down payment assistance for some buyers....again that is guided by income.
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