Financial Considerations

For most of us financing our new home means getting a mortgage. This is one of the most important areas of the purchase to resolve as early as possible. You should start out by correcting wherever possible any flaws in your credit that can be legally removed. Contact me for advice on how to do this.

It is important you get your credit in good shape and keep it that way throughout the home buying process. Do not make any major purchases or allow anyone to "pull" your credit report until you have moved into your new home. The process of allowing someone to examine your credit report will lower your credit rating, even if you do not make a purchase.

To get tips and advise on how to "clean up" your credit take my Credit Check test. Even if you have good credit the Credit Check is worth a few minutes to learn more about how different actions may affect your credit worthiness.

The next stage is to determine how much home you can comfortably afford and will get loan approval for. Successful mortgage qualification will be much easier if you start saving those extra pennies right away. Remember if you need a mortgage, the value of the home you can purchase will depend upon your income, debts and down payment.

Enter your gross monthly income
Monthly auto payments
Monthly credit card payments
Other credit payments
Desired price range
Loan term in years
Interest rate
Downpayment
You should be looking for a home under
$0
This calculator is provided for your convenience to be used only as a guideline in determining possible prequalification for a mortgage. Different mortgage companies use different methods to determine pre-qualification for a loan. Please contact me and I'll be happy to help arrange for a mortgage broker to pre-qualify you.

To calculate how much your monthly mortgage payments will be try out my Mortgage Calculator.


Now we've looked at financing it's time to become familiar with the local areas and the different types of living styles available.

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