home buying tips, information and calculators.
The following two calculators works with any Java Script enabled web browser (e.g. Netscape 3.0 or higher or Microsoft Internet Explorer 3.0 or higher).
Before you start your house-hunting trip, you should know what price range is realistic for you. You can get a rough idea of what many lenders think you can afford from this worksheet. Then, go to our mortgage estimator to automatically calculate your monthly payment based on a known loan amount.
If you're uncertain, click here for Advantage Home Mortgage to learn about prevailing rates, required down payment percentages, and loan terms.
If you're trying to calculate your available loan amount based on the monthly allowable payment above, simply adjust the loan amount until the monthly payment below matches the monthly payment above.
The monthly amount must cover your taxes and insurance, which typically amount to about 20% of your monthly payment.
Should You Get "Pre-Approved" for a Loan?
Many more buyers are applying for a loan and obtaining approval BEFORE they find the home they want to buy. Here are several benefits of Pre-Approval:
We can help you shop the market for a loan.
The new tax law has a substantial effect upon real estate in three ways:
Buyer Agency --Why is it important to transferees?
Traditionally, real estate agents have worked for the seller with the best interest of the buyer in mind. The buyer was the agent¹s customer. But, the seller paid the commissions therefore the agent¹s primary responsibility was to the seller, or client.
As the natural relationship between buyers and agents evolved, especially out-of-town buyers, the concept of Buyer's Agency caught on. It was recognized that a transferee was often pressured into making a buying decision in a short time-frame and didn¹t know local housing values, areas, schools, construction, and the other factors contributing to such an important decision.
As your Buyer's Agent, we can provide you with a Competitive Market Analysis. We can point out weaknesses of a property or a builder as well as strengths, a practice precluded as a seller's agent. With a Buyer's Agent, the transferee/buyer now has an advocate whose full and legal loyalty is to the buyer. We are Accredited Buyer's Representatives (ABR). Many area companies require that we represent their transferees as Buyer's Agents.
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operated member of The Prudential Real Estate Affiliates, Inc.