What Can I Afford?

House and hands

 

By getting pre-approved for a loan, you can look for a property with confidence and get a comfort level with your monthly payment.  It is good to have that information upfront, so that your real estate agent can keep the search within the appropriate price range.

 

If you have an idea of how much you plan to spend on a property, then you may use the mortgage calculator below to come up with an estimated monthly payment.

 

Figuring out the financing for your real estate purchase can be a complicated process, but it can be simplified if you first consult with one of our agents or their recommended lenders.

  • It is important to start with the right bank because each lender offers and specializes in different types of loans.
  • If you plan to build, then our agents will recommend you to a lender that specializes in construction loans which can significantly speed up the loan approval process and save you time.
  • In the event that you want to buy a property and build later, certain lenders offer lot and land loans with a reasonable down payment and an attractive interest rate.
  • Other lenders have programs for the purchase of existing homes or condominiums and can provide you with different financing options to fit your budget and down payment.

Let us know how we can help. Our goal is to not only assist you with the real estate transaction, but also to be a resource along the way. Use this free mortgage calculator to review what changes to your mortgage terms will mean to your bottom line.

 

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