Can You Afford to Buy a House? - Determine the property value of homes that interest you. The property value (what the home is worth) is determined by comparing the prices of homes recently sold of similar size in the same neighborhood. Your real estate agent will be able to provide this information to you.
If you are currently renting you are actually throwing you money away. By owning you can start benefiting by home appreciation and at some point you will own the hopme outright. If you continue to rent when will you own the place you are renting...never. With the emergence of new programs each and every day more more people are finding they can qualify for mortgages where they wouldn't have been able to in the past.
Know what additional expenses will come with owning a home. This includes homeowners insurance, utility bills, maintenance costs -- roofing, plumbing, heating and cooling.
Call a Mortgage Broker because one of the services that we provide is prequalification for a home. We can do a debt ratio and determine how much house you can afford, according to the lenders guidelines.
