Before You Look at Your First House
Experienced home buyers know that one of the first-steps in beginning a successful search for a new house is taking a hard, objective look at finances. Determining how much money you can dedicate to the purchase of your new house affects almost every aspect of buying a new home – including how we write the offer, which mortgage programs you will qualify for, shopping for the best mortgage loan and which homes are truly in your price range.
Manatee County
Manatee County Florida provides homebuyers with spectacular buying opportunities. The combination of surplus housing inventory, fabulous weather and breathtaking scenery makes this a wonderful place to live. From single family estates to maintenance-free condominiums, we can assist you in finding the home that fits your lifestyle. Whether you like to walk, jog, bike, golf, sail, kayak or cruise we will match you to the community and neighbors that enjoy the same thing.
Here are the questions that each home buyer should ask:
How much cash is available for a downpayment? The amount you have available for a down payment will affect what types of loans for which you can qualify. Learn more.
Am I ready to write a check for the earnest money? Earnest money is a cash deposit made to a home seller to secure an offer to buy the property. This amount is often forfeited if the buyer decides to withdraw his/her offer.
How much additional cash will be available to pay for closing costs? There are certain standard costs associated with closing the sale of a house. These fees are split between the buyer and the seller, as spelled out in the sales contract. Learn more.
What is the maximum monthly mortgage payment I can afford? Most lenders will use the 28/36 rule to determine the maximum mortgage payment you can afford. No more than 28% of your gross income can be applied to your mortgage, real estate taxes and insurance, and no more than 36% of your gross income can be applied to your mortgage expenses plus your regular debt expenses (car payments, credit cards, other loans, etc.).
