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.).
Mortgage Calculator:
Sales Price: $
Down: %
Interest Rate: %
Term: yrs
Monthly payment: $







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

Bowen Agency Realtors

Selinsgrove:
Courtyard Offices, Suite 110
1372 N. Susquehanna Trail
Selinsgrove, PA 17870
Phone: (570) 743-2165  Toll Free: (800) 326-9365  Fax: (570) 743-1396

Sunbury:
155 S. Second Street
Sunbury PA 17801
Phone: (570) 286-8594 Toll Free: (888) 283-2844  Fax: (570) 286-2204

Lewisburg:
Brookpark Station, Suite 5
2470 Old Turnpike Road
Lewisburg, PA 17837  
Phone: (570) 523-2165  Toll Free: (800) 258-8167  Fax: (570) 523-1202

E-mail: info@bowenagency.com

 


Bowen Agency Realtors 1372 N. Susquehanna Trail Ste 110 Courtyard Offices 2470 Old Turnpike Road St 5 Brookpark Station Selinsgrove / Lewisburg / Sunbury, PA 17870-9374
Phone: Toll Free Phone: Fax:

Why Choose Us? | Contact Us | Setting the Sales Price | Selling your own home | Free Home Valuation | Be a Preferred Buyer Client | Agents | Real Estate Update | Real Estate Cyber Tips | Local Resources | Why Live Here? | Need an Appraisal? | First Time Buyers | Home Buyer Checklist | Looking to Buy | Download Adobe Acrobat | News & Information | Real Estate Glossary | Looking to Sell | Our Featured Homes | Home | Your Buying Power | Neighborhood Prices | Staging Checklist | 9 Steps to Owning | Fixed Rate Mtg Calc | Mortgage Qualifier Calc | Required Income Calc | Rent vs Buy Calc | Mortgage Calculators | Request Industry Info | How to Sell Your Home | A holiday sale? | Rentals/Management | Reasons Homes Don't Sell | Buying Foreclosures/REO's | Improvements That Pay

Copyright © 2010 Bowen Agency Realtors
Portions Copyright © 2010 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.