|
All agents are NOT alike! Find out why I am a top real estate expert. Call me: 240-286-4179.
|
Request My Free Relocation Package!
Moving your family to another town or state is a major event in your life! I have helped many families and individuals relocate!
Find Out More >
View All Offers >
|
 Compare
three mortgages at one time. Download TripleCalc now. It's
free. |
|
|
|
Silver Spring and Washington DC Information:
About Silver Spring and Washington DC - Moving to Silver Spring and Washington DC, Maryland? Get info here... School Reports - Reports for Silver Spring and Washington DC schools kindergarten, elementary, and high schools. Relocating? - Free real estate information & relocation package if you're relocating to Silver Spring and Washington DC, in Montgomery County MD. Go to Main Sitemap - Main sitemap sections include Find Silver Spring and Washington DC Homes, For Home Buyers, For Home Sellers, Silver Spring and Washington DC Information, Real Estate Resources, and About Nancy Ricks.
Please Sign Up For The Latest Listings and the Latest Real Estate News
 |
First Time Buyers >Affording A Home
Are you getting ready to buy your first home? It is important to know how much you can afford before you begin looking at properties. Talking with a lender and getting pre-approved for a loan puts you in a stronger negotiating position with sellers.
As a rule, your monthly housing costs should not exceed 28% of your monthly pre-tax income. These costs include the mortgage payment, real estate taxes, and insurance. If you have long-term debts, such as student loans or car payments, your monthly payments, including your housing costs, should be less than 36% of your pre-tax monthly income. Some loans, such as VA and FHA loans, are more flexible with these basic guidelines.
Depending on which type of mortgage you select, you can consider houses in various price ranges. An adjustable-rate mortgage will usually enable you to qualify for a higher loan amount. Your real estate agent can help you make the basic calculations. Remember that buying at the top end of your price range gives you more time to outgrow your home, and can save you money over the long term.
|
|
| Q |
What famous $40+ million home has a 60-foot pool with underwater music and a 20-car garage?
|
| A |
The home of Bill Gates, co-founder of Microsoft, features the latest futuristic computer technology. |
 See More Real Estate Trivia > |
|
NUMBER1EXPERT®
© Homes Media Solutions™, a division of Dominion Enterprises and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.
|
- NUMBER1EXPERT™ 
