Apr 17

How much home can I afford?

How much home can I afford?

It’s one of the most important questions you can ask yourself before embarking on a home buying search.  Knowing the factors that lenders take into consideration when you apply for a home loan is a smart first step in the process.  Key factors include:

Debt to income ratio:  this is your monthly total debt divided by your monthly gross income.  This measurement is used to ensure that you’ll have enough income to cover both your new mortgage payment and the monthly bills on any existing debts.

Credit Score:  your credit score is based on your payment history, overall debt level, length of credit history, types of credit and applications for new credit.

If your credit score falls within an unfavorable range, traditional lenders may be hesitant to approve you for a loan.  You still may be able to obtain a loan, but you might have to pay higher mortgage rate.

Down payment requirements: You’ll need enough cash on hand for the required down payment.  The down payment amount can affect the interest rate on your mortgage.  There are options available that may allow you to purchase a home with less cash required and a lower down payment.

How much home can I afford?

How much home can I afford?

Call me today to find out more.

How much home can you afford? Knowing the factors that lenders take into consideration when you apply for a home loan is a smart first step. With the help of myself and John Coneys of Freedom Mortgage, we’ll determine the key factors that will affect you. #RealEstate #Realtor #HomePurchase #BuyersMarket #FreedomFast #ExternalObsolescence #HowMuchHome

 

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For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both.

Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary.

Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that “perfect” property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently.

When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting – or exceeding – his clients’ expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame.

For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania… call Anthony DiDonato.