Why should you be pre-qualified for a home loan before you shop for a home?
House Hunting Tip: Buyers often find that they qualify for a higher price than they feel comfortable paying. So regardless of how large a mortgage you qualify for, you should review you personal financial goals to determine a realistic price range.
It's useful to tally your monthly expenditures to see if there are any expenses that can be eliminated. Also, consider any major changes in your life that might affect your income and expenses, such as a new baby on the way or a planned return to school.
It's also important to consider the after-tax cost of home ownership. With certain limitations, homeowners who itemize deductions can deduct the costs of property taxes and mortgage interest paid on their principal residence in the year they are paid. This can amount to a significant tax saving.
Visit my website for additional links for additional information on shopping for a home.
www.ireneguanill.net
Irene Guanill RE/MAX Voyage 017-767-8291
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