What Can I Afford?

What Can I Afford?

The formulas used to determine what you can comfortably afford are explained in the short video below. Then you can use the calculators to get an idea of what you price range of homes you should consider. Ultimately though, getting pre-authorized is the best way to go and has many benefits to you as a buyer.
With a pre-authorization (and not a pre-qualification) all of the client’s information is thoroughly checked. With a pre-authorization mortgage there is a credit bureau report and information such as employment history, cash down, etc., is carefully verified.
  • You’ll know exactly what you can afford and what you are comfortable spending
  • You will have the confidence of being able to project your budget into the future
  • The seller will consider your offer as a serious offer backed by your pre-authorization
  • In the case of multiple offers, you will be a serious contender

If you would like to know what you can comfortably afford I can connect you with a mortgage broker who will find you the best mortgage rate and get you pre-authorized. Please contact me for more information.