Ever start searching through different home websites, magazines or look though Craigslist and wonder if you can afford that dream house? You may currently rent or even own a home and are longing to upgrade to a bigger place but just aren’t sure what you can afford. On my website I have a tool called a Mortgage Calculator.
The first half of the page calculates what your mortgage payment would be based on home price, interest and your down payment. The second half of the page is where you input specific information about your annual income and monthly bills, etc. and it will calculate what your maximum monthly mortgage and maximum home price will be. Click here to check it out!
The Mortgage Calculator is a fun tool to enter in different numbers and see if the dream home you have been eying is even a possibility or how far down the road until you can upgrade into a bigger home.
Now, the Mortgage Calculator is just to give you an idea. I always suggest meeting with a lender. You might be surprised at the different loan types that are out there or how much you do qualify for. Also, they can help guide you in the direction to help your credit score if you don’t currently have the credit but you do have the income. These are all things that something like the Mortgage Calculator can’t offer.
Long story short: after you check out the Mortgage Calculator, I suggest finding a lender and discussing your options- even if you don’t plan on buying for another year.
If you have already met with a lender and are all ready to start looking at home please contact me. Also, if you need help finding a lender I would love to help with that too,
Thanks for reading,
Danielle