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What should I consider before purchasing? Even before starting to look at houses, find out what price house or condominium you can afford. In general, you can afford to buy a home equal in price to three times your gross annual income. More precisely, the price you can afford to pay for a home will depend on six factors: 1. your income; 2. the amount of cash you have available for the down payment, closing costs and cash reserves required by the lender; 3. your outstanding debts; 4. your credit history; 5. the type of mortgage you select; and 6. current interest rates. |
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Ron Blasco Blasco Real Estate & Investments Real Estate Professional Since 1980 (909) 985-0539 |
Free Market Evaluation
For questions, e-mail us at Ron@BlascoRealty.com
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