How much house can I afford?
When considering buying a house, your first step should be to contact a mortgage person to request a pre-approval. The pre-approval will tell you the maximum loan amount you qualify for. You can then use a mortgage calculator to estimate monthly payments. I offer free access to a mortgage calculator on my website....just click here.
Interest rates are constantly changing but recently rates for FHA loans (which require a 3.5% down payment) have been approximately 5%-5.5%. If interested in getting pre-approved, email me and I'll refer you to someone I trust.
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Great blog Laura! If you ever need a testimonial written up, let me know!
ReplyDeleteBy the way, the house next to us has been vacant for almost a year (I think it's #40 (maybe 38?) on my street). The lady passed away shortly after we moved in and the family is sort of dragging their butts selling it. The son told me this past weekend they are going to put it on the market soon. I can't imagine they can get much more than $200K for it from what I have seen on the inside. If you know of any "nice" people who are looking for a cosmetic fixer upper in my area, send me a message and I can give you more info and the guy's contact info!