Before You Look
It is important that you understand how much you can afford or are willing to pay before you go out and look for a new home. But what do you do before you are ready to speak with a Realtor and/or mortgage professional?

Simply, you can use a mortgage calculator to play with the numbers to get a good idea of affordability based on your specific circumstances.

My website, http://www.ncrealestateweb.com/, offers a "Calculator" for just this purpose. Feel free to use it as often as you like. You will find it in the navigation bar or you can simply Click Here.

Working With A Realtor
Once you contact a Realtor one of the first things is to get "Pre-Qualified". Pre-qualification ensures, at a minimum level, that you have the capacity to purchase in a certain price range. Pre-qualification is not a guarantee of a loan but, you have at least begun the process with a specific lender. During this initial step the lender has typically checked your credit, income, debt, and employment status.

Pre-qualification is important for many reasons. The most obvious is to ensure your Realtor shows you houses in your price range. Beyond this it is also important to provide a copy of your pre-qualification letter with any offer you write. Pre-qualification shows the seller that you are serious about buying and have begun the financial process.

The Perfect Home, Can You Afford It
Affordability is more than having a down payment and being able to make the monthly payments. In fact, just because a lender tells you can afford hundreds of thousands of dollars doesn't mean you really can.

Buying a home is probably only one of your major financial goals. You still need to save for retirement, send your kids to college, and be able to take a vacation every now and then. Making a loan that commits every last dollar leads to frustration at best, and disaster at worst.

Make sure you will still have some money to set aside for not only the things mentioned above but also home maintenance. Making minor repairs to avoid major problems is a constant expense with home ownership. Also, what if the roof starts leaking, the hot water heater breaks, or the heating and air conditioning system stops working? This is the reality of home ownership.

There are many advantages to owning your own home verses renting. However, there is no advantage in getting in over your head. The key is being honest with yourself.

I Can Help With Financing!
I can help you get pre-approved for a home loan so that you can confidently shop for a home that's not only perfect, but also perfectly affordable. Well-priced and maintained homes still sell quickly in this market.  

Call me at 252-442-2687 with any questions you may have. I service the Edgecombe, Nash, and Wilson counties in North Carolina. These counties include Rocky Mount, Nashville, Red Oak, Tarboro, Wilson, Bailey, Spring Hope, Pinetops, and more.

About the Author
David C. Recker is a Top Producing Realtor Licensed in North Carolina. Dave works at RE/MAX Point East and serves Edgecombe, Nash, and Wilson counties in North Carolina.

Dave's website, http://www.ncrealestateweb.com/ , is one of North Carolina's top real estate websites and you can read frequently posted Articles and Blogs by Dave at NCRealEstateWeblog.