Applying for a Loan
Before you begin the search for a new home, you need to determine the price range you can afford. The quick answer to that question was once to multiply your annual salary by 2.5. However, in today’s world, it is much more complicated. Many people have fluctuating income, student loans, significant credit card debt, child support, alimony or other factors that will impact how much they can borrow. In addition, you need to calculate approximately how much you will owe in real estate taxes and insurance.
The best way to get started is to contact a bank mortgage company to find out what amount you can borrow and what your estimated monthly payments will be. By doing this at the start, you can search for a home in the price range you can afford. We recommend the following great mortgage company:
America Home Key Inc.
Debbie Jernigan
478-953-6260 (office)
478-501-0111 (cell)
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