One of the first steps in purchasing a home is considering how much of a home you can afford to buy. Before you start searching for homes on the Internet or with the help of a realtor, you should have a good idea of what kind of mortgage you can qualify for, and what size payment you can comfortably afford. To help figure this out, you can start by talking to a qualified loan officer.
Questions to Consider
To start the process, we often ask about your goals, and try to assess your financial picture to help determine what you can afford. For example, we may discuss your work history, your employment income, any debt you may have, and your credit score. This conversation will help determine what you may qualify for, and the best options for your unique situation.
Answering the above questions will give your loan officer an idea of your financial picture. The next step will be to do a pre-approval, which will prepare you to the eventual writing of an offer on a home. If you have questions or would like help figuring out how much you can spend on a home, contact Pete Thompson at (630) 481-7188 or visit www.PeterThompson.team. You may also understand more on this topic by visiting our YouTube Channel.