It seems kind of silly to have to ask the question, "is that a bedroom?" when you see what obviously looks like one. Our friend, you might just be surprised that what you see might NOT be a bedroom
Are You Really Ready To Buy
United Capital Lending of Johnson City has long been a trusted home mortgage go-to for The Shields Team. One of the reasons why we have great trust in UCL is because of their reputation in the industry of mortgage and financial products, and the special attention they provide to our buyer clients.
United Capital has some great information on their website on items to consider when buying a home, and how to know if you're in position to do so. On the UCL website is the following great information about finding out if you're 'Really Ready to Buy":
Purchasing a home is a very exciting time, and being well prepared will help you make better decisions. Take this opportunity to learn more about home buying and the mortgage process. Below and throughout this site, you will find information that will help you with the purchase of your new home.
Does my home qualify for USDA Rural development 100% financing?
If you would like to know exactly what rate you qualify for, Apply Online, and we will give you an accurate assessment of what you qualify for.
If you have any questions, Contact Us Today.
Am I really ready to buy?
Buying a home offers many advantages, one of the most significant being that it allows you to build equity (ownership) when you pay your mortgage each month. A common myth is that monthly mortgage payments are more expensive than rent. But, in many cases, mortgage payments can be even less than rent. When considering home ownership for the first time, you need to decide whether buying makes financial and practical sense for you right now or if you are better off renting. Consider both the advantages and disadvantages to renting as well as buying, and weigh the pros and cons for your particular situation.
How much “house” can I afford?
The first step toward finding the right home is to quickly compute your purchasing power and determine how much you can afford to pay each month. This saves you time by allowing you to focus on homes in your price range.
In addition, you should consider both the up-front and ongoing costs associated with purchasing a home in the planning stage.
Some Upfront Costs Include:
Down payment: Typically ranges from 3-30% of the cost of the house. The more you can put down, the greater equity you will have in your home and the lower your monthly payment will be. For down payments less than 20% you may also need to pay mortgage insurance.
Closing Costs: Typically range from 2-6% of the loan amount depending on your area.
Your housing costs can include the following:
Monthly mortgage payment
Flood Insurance (if applicable)
Property taxes (if applicable)
Utilities (if applicable)
Maintenance (if applicable)
How much can I get pre-qualified for?
Before you go looking for a home, you should see if you are financially able to get a mortgage and get an estimate of what you pre-qualify for from a lender. If you are working with a real estate agent, getting pre-qualified lets them know you are a knowledgeable and serious buyer.
If you'd like more information, or a chance to review your current situation with a qualified Mortgage Specialist, visit United Capital Lending on the web: http://www.ucloans.com/
Holding a BS in Environmental Science, and MA in Education, real estate was not Shields Team Buyer Specialist Rayne Price's first career choice. It was only after encouragement from his wife and a cl....
Latest Blog Posts
You've become obsessed with your credit score, guarding it carefully, and keeping a close eye on it to have everything in order when you apply for a home loan. That score will will not only affect