“In What Price Range can we Afford a Home?”
I never like answering this question. The question I want to answer is, what mortgage payment are you comfortable with? So often I speak to someone who tells me that they have been approved for X dollars, but they have no idea what a payment would be. This particular person is wise enough to know what they don’t know:
We are exploring our options and have been looking at houses in our surrounding area but have no idea what we qualify for. With that being said, I am asking you to give me and idea for what I can shop for.
It is unfortunate that so many folks don’t get the answer to the question of what monthly payment they are comfortable with. This is an exercise I take each client through and even when we have gotten that answer, we still are not 100% sure of the number, monthly property taxes, homeowners insurance or mortgage insurance ( if applicable).
I always have the clients contact me once they are getting ready to make an offer so that we can do a better job estimating all the numbers. At that point they have a very good idea what the mortgage payment will be.
Image courtesy of stuartmiles/freedigitalphotos.net
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Joe Petrowsky, NMLS #6869
Right Trac Financial Group, Inc. NMLS #2709
110 Main St.
Manchester, Ct. 06042
Office: 860 647-7701 x116
Fax: 860 647-8940
Cell: 860 836-9294
Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.
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