How Much Home Can I Afford?
Real Estate Mortgage Calculator
Oftentimes, first time home buyers have sticker shock after seeing what their monthly mortgage will be because they simply didn't factor in the cost of property taxes, mortgage insurance for the first 5 years (if an FHA loan); property hazard insurance (fire, flood, etc) and general upkeep. It is imperative that every first time home buyer once having gotten a pre-approval from a reputable lender, identified a property using a professional Realtor, obatin an approximate estimate of these sums prior to making an offer to determine true affordability. Some will find they can afford a lot more home than they thought, while others realize being a little more conservative with their first purchase is better.
If you are not currently working with a Realtor or agent and need help in figuring out what the last property taxes were for a home or property you are currently interested in buying, do not hesitate to call us at 310-508-4354.
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