calculator: Tampa First Time Buyer - What's The Payment?
- 03/28/07 01:42 PM
When I take an application from a new home buyer, I always ask..."What is your comfort payment, what payment range are you trying to target?" I think it's a bit suspicious when first time home buyers give a payment that is unrealistic with the price range. Now, I have to say that when I think "mortgage payment", I am including escrows...after all, these do have to be paid at some point. It takes much education to get this same idea through to buyers. So where is the disconnect in "What's the mortgage payment?"... When buyers are looking at homes, many time they use websites that offer "mortgage calculators" to … (7 comments)
When I take an application from a new home buyer, I always ask..."What is your comfort payment, what payment range are you trying to target?" I think it's a bit suspicious when first time home buyers give a payment that is unrealistic with the price range. Now, I have to say that when I think "mortgage payment", I am including escrows...after all, these do have to be paid at some point. It takes much education to get this same idea through to buyers. 
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