Before you buy a home, you need to know what you can afford. Here’s the first step you need to take.
I get a lot of questions about the home buying process. One of the biggest questions I receive is about how to get started, so I’m joined today by Brian Maier of Mortgage Box, who will be talking to us about the first step in buying a house.
That first step is to talk with a lender. Your lender will be able to walk you through the entire process of securing a mortgage. They don’t just tell you what you can afford—they help you find a price point you’re comfortable paying.
When Brian speaks with his clients, he looks at how a mortgage fits in with their long-term financial goals. 98% of buyers begin their home search online, but online calculators aren’t always accurate when finding out what you can afford, so getting pre-approved and knowing your price point is important.
There are so many variables in play when it comes to calculating a mortgage payment. Numbers can change depending on credit score, type of loan, taxes, etc. Online calculators simply don’t handle these factors, but lenders can give borrowers the whole picture.
If someone thinks they can afford a $300,000 home, then comes to us and finds out their monthly payment is outrageous, it can be difficult for them to backtrack. By speaking with a lender from the outset, you’ll know exactly what you’re getting into.
I’d like to thank Brian for speaking with us today—if you’d like to contact him, call 702-432-5626 or email Info@MortgageBoxNV.com.
If you have any real estate-related questions or need further information, feel free to reach out to me. I look forward to hearing from you soon.