Helpful Info for Home Buyers

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Helpful Info for home buyers concerning mortgage rates, how much mortgage you can afford, renting vs. buying, and several questions you should always ask your lender!

Helpful Info for home buyers concerning mortgage rates, how much mortgage you can afford, renting vs. buying, and several questions you should always ask your lender!

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  • 1. Questions a Buyer ShouldAsk a Mortgage LenderHow do you decide which lender isbest for you? Courtesy of Lisa Lasley, Your Woodlands Township Team Better Homes & Gardens Real Estate, Gary Greene and Gibraltar Services lisa@ywtteam.com
  • 2. Mortgage Rate Table
  • 3. Income to MonthlyPayments Chart
  • 4. How much mortgage can you afford? The chart below can help you determine this. Here’s how. 1) Reading down, find the monthly house payment youfeel you can handle. 2) Reading down in the monthly payment column, find the interest rate closest to the rate of the type of mortgage you’re seeking.At the point where that column and row intersect is an approximation of how much mortgage you can afford.
  • 5. Rent vs. BuyHow rent money, figured on a 9%interest basis, amounts to large sumsin a few years.