Ever considered going into real estate? There's a lot of good deals in the current market to take advantage of now. Anyone interested in free short sale training? I have 18 years of real estate knowledge that I would enjoy sharing with the right person. Can it be you? If so, email me at:
nj_dreamhouse@yahoo.com
I would like to know more about purchasing a Home. I need someone reliable thats knows real estate and can point me in the right direction on good deals that are out there.
ReplyDeleteHi Edward,
ReplyDeleteLooking for a house for the first time can be challenging. I appreciate you seeking the advice of a real estate professional. The first most important step in buying a house is to get pre-qualified. The bank you choose to do your financing with will have to know how your credit rating is. The amount of house you can pay is calculated this way, your gross monthly income multiplied by 29%, what ever amount that comes out to, signifies how much of a monthly mortgage payment you qualify for. Based on that I can tell you what price range you need to stay in. Although prices are very low, it's better to use a co-signor. But let me give you an example, let's say your monthly gross income is:
$5,000 x .29% = $1,450
$1,450 is the amount of monthly mortgage payment you qualify for. Based on this, I would say the price range qualified for is $150,000. All these numbers fluctuate depending on how much debt you have. This is something a qualified loan officer can calculate more accurately for you. Since, this all depends on a lot of factors. Lastly, you would have to calculate how much of a down payment you could make. Why don't you shoot me an email, so that we can discuss this further?