How much can I comfortably afford?
Find any home using our search functions and scroll down to the Description. To the right of the description, you will find a Mortgage Calculator for "What If" scenarios. Adjust the target Purchase Price and Interest Rate and see what your monthly payment will be (Principle and Interest). Click here for an example.
The Buying Process
Your total Mortgage Payment is based on Mortgage Type, Interest Rate, Down Payment amount (some homes can be purchased with $0 down), Home Owner Insurance amount, Property Tax amount, etc, so check with with your lender, or contact us for more information.
Interest Rates vary based on Mortgage Type, Financial Conditions, your Credit Score, etc, so check with with your lender, or contact us for more information. For example: The difference in a 4% vs 5% 30-year Mortgage on a $200,000 home will be $119/month ($955 vs $1,074/month (Principle and Interest)).
There is usually some negotiating room built into the Asking Price. Currently in the area the reduction from Asking price to Selling Price is averaging 4.23%. A Real Estate professional will show you "Comps" (Comparative Properties) and guide you on appropriate Offer Strategies so you can get the home for the best possible price.
Here is a link to get a very good Buyer's Guide that can answer many questions, or contact us for more help.