How much can you spend versus how much you want to spend


How much can you spend versus how much you want to spend
By Scott Rogers • October 6, 2015
Most folks who buy a home this year will not be paying cash. An important early stage of the home buying process is to talk to a lender to become pre-approved for a mortgage. As you meet with a lender, remember that there is often a difference between: How much money you could borrow to purchase a home. How much money you want to borrow to be comfortable with the monthly payment. When you are just starting the home buying process, I recommend that you talk to one lender to get a rough idea of the price range of home you will pursue and to make sure there aren't any credit issues that would be a surprise to you. Once we are ready to make an offer, or after we have a contract on a house, it then makes sense to check with at least one additional lender to make sure that the interest rate and loan terms offered by the first lender are competitive. If you are looking for a qualified mortgage professional, I would recommend that you contact one of the individuals listed below. Most of my buyer clients work with one of these lenders: Joe Slagell :: Park View Federal Credit Union :: 540-246-1004 JoDee Lambert :: SunTrust Mortgage :: 540-421-5745 As you are navigating the home financing process, I am happy to help you understand the information you are receiving and the decisions you are being asked to make. There are a variety of loan programs that can likely work well for your situation, but we'll want to make sure you are aware of all of your options. Learn more about the home buying process at BuyingAHomeInHarrisonburg.com. Receive Updates by Email Recent Articles: Buying A New Construction Townhouse Requires A Bit Of Planning Should We Call An Almost Bedroom A Bedroom? November Home Sales Surge with 12% Year Over Year Growth and 5% Increase in Median Price Interest Rates And Home Prices Affect Home Sales Trends, But Life Events Do As Well! In Which Room Or Rooms Do You Spend Most Of Your Time? An Early Look At November Home Sales! All The Right Spaces In All The Wrong Places Do Not Be Surprised If You Have Lots Of Showings Of Your Home. Do Not Be Surprised If You Do Not Have Very Many Offers. How Many Homes Are Going Under Contract Within Three Days, These Days? The Growing Impact Of New Home Sales In Harrisonburg, Rockingham County
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Dec 18, 2024 (unless otherwise noted).
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