When you are going from renting to a home loan a common question we get asked as Mortgage Bankers is, “how much can I afford?” This is a great question.
When you are ready to purchase a home you can begin to estimate your purchase price based upon your current rent. Simply take your current rent and multiply it by 175.
That will give you a rough estimate of the purchase price range that you can afford.
What is most important?
Give us a call and get pre-approved. Why?
Because this rough estimated purchase price has NOT taken into consideration your current income situation nor your current monthly debt payments.
Next, keep your credit requests and debt obligations as low as you possibly can during the pre-approval and while you are shopping for your dream home.
We are here to help you through the process from renting to a home loan!