| Unfortunately there are many home buyers out | | | | agents can help home buyers in the home |
| there that don't have a realistic picture of | | | | buying process eliminate homes early on so |
| how much they can actually afford to spend on | | | | the buyer doesn't waste time looking at homes |
| a home. First time home buyers often make | | | | they can't afford in the first place. |
| this mistake and end up wasting time and | | | | |
| energy looking at homes they can't afford. | | | | By knowing what you can afford to spend on a |
| Not only do buyers get their hopes up but the | | | | home eliminates the frustration a buyer may |
| hopes of the seller. There is nothing worse | | | | feel when they stumble across the perfect |
| than finding a house that you love and going | | | | home only to find out later through the home |
| to the bank to get a home loan only to find | | | | loan process that they can't get financing |
| out that the bank will not lend you the | | | | for that amount. It is hard to lower your |
| selling price of the home. Because, | | | | standards after this happens. You have |
| according to them, you can't afford it. | | | | already made up in your mind the type of home |
| | | | you wish to purchase. |
| When getting pre-qualified for a home loan it | | | | |
| is important to remember that, typically, the | | | | No home is going to be perfect. Make a list |
| loan amount plus the taxes and insurance | | | | of features you have to have in a home and |
| should not exceed 28% of the family's total | | | | set realistic expectations for what you can |
| income. Also, the family's total debt | | | | afford. Try to avoid making decisions purely |
| payments should not exceed 36% of income. | | | | based on emotion and impulse. Finding the |
| | | | right home you can afford may take time. Be |
| By avoiding delusions and getting | | | | patient, you will find the home you are |
| pre-qualified for a home loan, real estate | | | | looking for. |