What is my monthly payment going to be is an important question for First Time Homebuyers everywhere!
This is a reblog, and I always disable comments on reblogs. If you would like to leave a comment, click on the link below and leave your comment with Jerry who did all the work on this post and deserves your support with your comments.
FAQ # 4 - What is my monthly payment?
Welcome, First Time Home Buyer! I will be very glad to assist you with this question, and any other questions that you may have on this lovely home. Yes, I have heard this question very often from many first timers, who are just out there shopping around for a home. Real Estate agents will receive a call from potential buyers off the yard sign, and the very first question that is often asked is “What is my monthly payment going to be”.
Most real estate agents are automatically going to assume that the person asking this question has not spoken with a mortgage lender, or any other financial institution about securing a loan, or about getting pre-qualified, or pre-approved. Those buyers who have already gone through the process of getting pre-qualified or pre-approved, already know the answer to this question, or at least have an idea based upon the “listed price” of the home they are calling about. Therefore, whenever a potential buyer calls off one of my listings, and asks the question about their monthly payments, I will suggest that my preferred mortgage broker speak with them first to answer all of their financing questions.
We all know that the next questions will be how much money do I have to put down? or How much earnest money do I need? Are there other expenses they I need to worry about? That’s why it is so important to have the first office visit, or the very first consultation with a real estate agent of the buyer’s choosing. That knowledgeable real estate agent will be sure to cover all the steps involved in the home purchasing process. Knowing how much you can afford, and how much you are able to borrow is not the same. Consequently, first time home buyers need to be directed to those preferred mortgage counselors, or financial institutions who can assist them with all of their financing needs. Then, the real estate agent will more than willing, and able to assist these first timers in finding the home that will meet their needs or criteria.
Jerry Newman, REALTOR®
US Army Retired
Keller Williams Realty
San Antonio, Texas
Direct - (210-789-4216
Fax Line (210) 696-9981
Each Office is Independently Owned and Operated
Your Local Real Estate Expert,Let me Google that for You..