What Price Home Can I Afford to Buy?

The very best first step in the Buying Process if you do not intend to make an all cash purchase, is unequivocally, determining what a lender is willing to loan you. After you determine how much capital you have for a down payment, and how much of a monthly payment you are able to commit to; having a lender review your capital resources, equity assets, potential income on a subject property, and historical credit rating, is essential in a successful real estate search and purchase plan. Also potentially locking in an interest rate, verifying monthly expenses, and determining your transaction closing costs is invaluable.

We work with reputable lenders everyday who take the guess work out of the loan process. Often times, our clients find out that they are pre- approved to purchase a higher priced property then they previously expected. Why fall in love or spend precious time searching for properties you cannot afford, or conversely limiting your horizons by underestimating you financial qualifications. Seller’s and their agents are more willing to negotiate and accept an offer from buyer’s who they “know” are pre qualified to get an appropriate loan relative to the offering price. Allowing a property to go under contract and remain contingent for 17 or more days while the buyer hopes to get their loan approval is not in a seller’s best interest.

In the pre qualification process you will find out:

1. Precisely how much home, condominium, or investment property a lender believes you can afford.
2. How much capital you will need for a down payment.
3. How much minimum down payment is required and what effects a larger down payment might have on your purchase plan.
4. Exactly how much a lender is willing to loan on the type and specific property you have in mind.

Please know that we will keep your information absolutely confidential and only present it to our preferred mortgage lenders. After review We will promptly set up a conference call or personal meeting with you and discuss the purchase / loan parameters that are available to you. With confidence we will search for your dream property.