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Don't Wait Buyers--- If It Feels Right--- It is.

I love helping buyers find their dream home. I don't always love when my buyers don't see the right one, right away. As a Realtor, many times we "know" the house before you do. A great buyer's agent should ask enough questions about your likes and dislikes and get to know how you live in a home so that when "The One" comes along we are ready to jump as quickly as you are!

The worst is when we "know" it and you don't see it until it is under contract.

Of course, I would never tell you you are missing out because that is rude and it isn't my job to talk you into a home. The thing is, this typically becomes the turning point in home buying. This is when you as the buyer realize that sometimes waiting is the worst thing you can do.

Like the time when I know I had to have this Leopard Coat I LOVED but knew husband doesn't care for animal prints so I left it at the store. Then I thought about it all night. I even dreamed about it. The nex…

How Much Home Can I Afford?



How Much Home Can I Afford?

Figuring out how much you can afford or what your payment will be each month is one of the most asked questions I face as a Real Estate Agent. Picking up the phone and calling a lender you don't know can be scary. Looking at mortgage loan programs available can be confusing and understanding interest rates can be trying. 

There is an easy way to get started. 

Step One: Find out what the interest rates are at the current time. You can typically do this by searching on the internet or a quick call to a local lender. Get your rates on conventional fixed rate loans.

Step Two: To obtain the clearest picture of how much home you can actually qualify for, the best idea is to contact a reputable local lender and let them analyze your entire situation. 

This lender can calculate your income-to-debt ratio, do a quick credit score and give you the information you need. Typically, lenders like to see a ratio not exceeding about 28%. 

This does not take into consideration long term monthly debt. As an example, to qualify for a loan, lenders may require ratios of 28% or 36%. This means you can spend up to 28% of your gross monthly income on a mortgage payment, and no more than 36% of your gross monthly income on all forms of debt, mortgage included.

I work with a number of loan officers and can recommend one for you. Contact me from the sidebar! 

Thanks!

Leigh Ann 

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