Wednesday, January 28, 2015

Can you Afford to Buy a New Home?

When you are considering buying your first home, there are many things to take into consideration including how much you can afford to spend, what your monthly payment will look like, and how a mortgage payment will affect your over all budget.

The first step in buying a home is to get pre-approved by a qualified lender. The only way to truly know how much home you can afford is to ask a lender. Getting pre-approved lets you know how much you can afford before shopping for your home. Remember, the amount that you are qualified for (the total amount a lender will allow you borrow) may be much more than the monthly payment you can actually afford! Speaking with a qualified lender will allow you to not only find out how much money you can borrow, but what your final monthly payments will be, which will allow your real estate agent to search the right homes for you.

For the next five steps in deciding if you can afford to buy, download the PDF of First Time Homebuyers Tools for a Successful Homebuying Experience.
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The Foster Beckman Group would love to help you find your new home. We work closely with all of our home buyers and renters to help you find the right home at the best price for the least amount of stress! Call us today at 702.686.2695.