Before You Look at Your First House

Experienced home buyers know that one of the first-steps in beginning a successful search for a new house is taking a hard, objective look at finances. Determining how much money you can dedicate to the purchase of your new house affects almost every aspect of buying a new home - including how we write the offer, which mortgage programs you will qualify for, shopping for the best mortgage loan and which homes are truly in your price range.



Here are the questions that each home buyer should ask:

  • How much cash is available for a down payment? The amount you have available for a down payment will affect what types of loans for which you can qualify. Learn more.
  • Am I ready to write a check for the earnest money? Earnest money is a cash deposit made to a home seller to secure an offer to buy the property. This amount is often forfeited if the buyer decides to withdraw his offer.
  • How much additional cash will be available to pay for closing costs? There are certain standard costs associated with closing the sale of a house. These fees are split between the buyer and the seller, as spelled out in the sales contract. Learn more.
  • What is the maximum monthly mortgage payment that I can afford? Most lenders will use the 28/36 rule to determine the maximum mortgage payment you can afford.

The 28/36 Rule
No more than 28% of your gross income can be applied to your mortgage, real estate taxes and insurance. And no more than 36% of your gross income can be applied to your mortgage expenses plus your regular debt expenses (car payments, credit cards, other loans, etc.).

Looking to Buy?

Are you looking to buy a house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.
 
Your Information
*Name:
*Email:
Phone:
Street Address:
City:
State:
Country:
Zip/Postal Code:

Some Details
When Are You Moving?:
Where Are You Moving:
Your Price Range?:
Number of Bedrooms?:
Number of Bathrooms?:
Size In Square Feet?:
Any Comments, Concerns, Or Questions:

Note: Fields with an * are required



 
State:
County:
City:
Zip:    

 

Please visit My Other Information Laden web site: http://www.exithudsoncounty.com

Bayonne, Jersey City and Hudson County Homes for Sale and Real Estate Info! 

Your one-stop source for real estate services covering the Bayonne, Jersey City, and Hoboken areas.  Focused on Investment and residential real estate.  With a focus on exceptional service, you'll find everything you'll need from complete MLS listings, valuable home value calculation tools, and comprehensive area information! My broker's web site:  http://www.exitonthehudson.com


Exit on the Hudson Realty 808 Broadway Bayonne, NJ 07002
Phone: Cell: Fax:

Contact Us | Free Home Valuation | Find A Home! | North Bergen Info | Why Use a Realtor? | Foreclosure | Seller's Page | Buyer Information | Sellers Information Page | About Alex | Tax Foreclosures | Web Marketing - New | Investor Info Page | Landlord Services | Community Info | Seller Steps to Success | Why List With Me? | Hudson County Information | Investment Calculations | How to Be Landlord | RE Outlook and Conditions | Hudson County Info | School Info | Mrs. FixIT | Get Pre-qualified | For Buyers | Tell a Friend | News | Our Featured Homes | Search REALTOR.com® | Home | 9 Steps to Owning | Site Map | How to Sell Your Home | Reasons Homes Don't Sell | Buying Foreclosures/REO's | Role of the MLS | Fixer Uppers | My Blog

Copyright © 2008 Exit on the Hudson Realty
Portions Copyright © 2008 a la mode, inc.
Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map
All rate, payment, and area information are estimates and approximations only.