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How Much House Can You Afford?

By
Real Estate Agent with SwingSign Corporation

 CALL LON: 888-8-LONREED 
   

Your down payment and monthly income will, in part, determine how much home you can buy in today's market. But there are other factors to consider as well.

Take interest rates, for example. When rates are low, the cost of financing goes down, leaving more money available to pay for the home itself.

The state of the local and regional economy has an effect too. Business slow-downs are usually accompanied by lower, or at least stabilized, home prices -- an opportunity for you to get more for your money.

Although you can't control interest rates and the economy, you can time your purchase to take advantage of them. And you can control several key factors to home affordability, including the type of mortgage you choose.

In fact, there are lots of ways to stretch your home-buying dollars to get the most for your money. Want to learn more? Give us a call and we'll be happy to discuss all the possibilities with you.

P.S. Get an idea about what size mortgage your income will support by reading our online report, QUALIFIED: How Much House Can You Really Afford? There's no obligation -- we hope the report is of service to you. Just click on the link to read it.

Best regards,

Lon Reed - eAgent.com Certified Professional
800-693-9811
EXCLUSIVE eAgent: San Antonio & Texas Hill Country 
http://www.PreforeclosureSolutions.com
http://www.lonreed.com/
http://www.relocatetosanantonio.com/
http://www.relocatetosanantonio.net/
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Danny Thornton
R & D Art - Knoxville, TN
WordPress Guru
Lon, great post here. I also tell my customers that they want to stay at about 31% of the debt to income ratio on the housing side of what they can afford. That way, it leaves room if the rates or taxes and insurance increase.
Oct 08, 2007 06:24 AM
Lon Reed
SwingSign Corporation - San Antonio, TX
We Buy Houses - Nationwide
Thanks Danny. Very good point.
Oct 08, 2007 08:36 AM