NAPA Real Estate-Homes For Sale--Determine how much you can afford
This is an important first step on your road to home ownership. Three key costs to consider are:
•· Down payment - The part of the property purchase price paid in cash and not financed with a mortgage. One thing to consider is that the larger your down payment, the lower your monthly mortgage payments will be.
•· Closing costs - Cash due at closing for expenses you and the seller pay to complete the transfer of ownership. Closing costs are typically based on the home price and vary according to location. They might include an origination fee, attorney's fee, initial escrow payments, and charges for obtaining title insurance and a survey.
•· Monthly payments - When you are approved for a mortgage loan, you make a commitment to pay back the loan on a monthly basis. Your payment is based on both the principal - the amount of the loan - and interest - the amount you pay to borrow money, calculated as a percentage of the amount borrowed. It also includes money that may be held in escrow for taxes, homeowner's insurance and mortgage insurance.
There are a variety of loan options that can reduce or increase each of these costs. Use our affordability calculator to help you determine the amount you're comfortable spending. Then talk to Timothy A. Steele, Mortgage Advisor Coldwell Banker Mortgage. 707-832-9503 - Cell 415-634-2904 - Efaxfirstname.lastname@example.org.
For more information on NAPA homes for sale, please contact via phone, email or text. To see what's for sale throughout NAPA please visit my website at: www.soldbynicole.com and click on search the MLS. If you want to know how much your current NAPA home is worth, click on CMA and I will happily provide you with a complimentary, no obligation, "Current Market Analysis" of your home. I also write a blog about market statistics for most of the bay area markets. Click here to view my blog: http://activerain.com/blogs/nicolemonary