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How much can you afford? Dana Bain Premiere Mortgage Services Inc. 978-422-2311

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Mortgage and Lending with Premiere Mortgage Services Inc. MLO 18693
http://www.bainmortgage.com/HowMuchYouCanAfford How much can you afford? Deciding how much house you can afford is a personal decision. Many factors come into play. How much can I borrow? How much can I put toward my down payment? What size monthly payment can I afford? There are no black and white answers to these questions. Its a matter of give and take. If you plan on a 30 year mortgage, you can probably make a lower down payment (or perhaps no down payment at all) and still manage the monthly payments. If, on the other hand, you plan on a 15 year mortgage, you'll probably want to make a larger down payment to keep your monthly payments in line with what you can afford. How large a down payment can I make? Many buyers look at their cash on hand as their only source for their down payment. This simply is not the case. One way to fund or partially fund a down payment is by using a gift. Parents, grandparents and other family members are often eager to help by making a cash gift toward the purchase of your home. There are also down payment assistance charities that can help you. And, of course, if you are selling a home, the equity you've built up can be applied to your down payment. But these are not your only options. We can help you explore all your down payment options, including low down payment and 100% mortgage financing options that might be right for you. What size monthly payment can I afford? When determining what size monthly payment you can afford, you'll want to consider what other monthly expenses you have. Tangible expenses such as car payments, day care and utility bills, all play a role in how large a monthly payment you can afford. There are also the intangible expenses or lifestyle expenses that you'll want to consider. Things such as dining out, travel and when you buy your next car can effect how much you can afford. Are you willing to curtail or delay some of these expenses in order to afford a larger monthly payment? How much can I borrow? This is a question you'll want to get answered before you begin your home search. This is something that we're here to help you with. Our mortgage calculators will help you see how your down payment, monthly payment and the amount you borrow are all interrelated. We can answer any questions you may have about the mortgage process. But the best way we can help is by getting you pre-qualified for a mortgage loan. To get started, simply complete the form below to let us know a good time to contact you. We look forward to helping you buy your dream home. Massachusetts License Number MB1205 Licensed by the State of New Hampshire Banking Department- License Number 5430-MBR Premiere Mortgage Services Inc. NMLS #1498 is a licensed broker and not a lender. We "Arrange Loans" but we do not make loans. Dana Bain NMLS #18693 Robin Dunbar Bain NMLS #18699 Privacy Policy PREMIERE MORTGAGE SERVICES INC. 11 Malvern Hill Rd Sterling, MA 01564-2829 Phone: 978-422-2311 Toll Free Phone: 1-800-480-0545 Fax: 978-422-2313 E-mail: Dana@BainMortgage.com

Comments (1)

Pat Champion
John Roberts Realty - Eustis, FL
Call the "CHAMPION" for all your real estate needs

Very good question for the home buyer today-I think you have covered all aspects for the home buyer to consider before entering the market for a new home.

Apr 15, 2010 04:28 AM