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Real Estate Sales & Property Management


Your Team

 

Your Realtor®
A successful purchase starts with the right representative. In fact, once you’ve selected the best Realtor® to represent you, it is likely that he or she can recommend other professionals to join your team, taking more of the responsibility off of your shoulders.

Lender (and the Appraiser)
Having the right backer can be extremely important – it is your money we’re talking about after all! Make sure that your lender and financial representative is someone with whom you feel comfortable. Be wary of any lender who promises you more than you think you can reasonably afford. Your lenders may or may not require an independent appraisal, and typically will make arrangements for the appraisal themselves.

Home Inspector
Spending a few hundred dollars to catch a major problem now is certainly better than many thousands to correct that ‘surprise’ down the road. Ask your Realtor® for a recommendation.

Contractor
Don’t let finding the right contractor slip through the cracks – planning ahead will almost certainly make your renovation smoother. Your Realtor® can provide you with a list of reliable service providers.


Your Plan

 

1.  Find the right representative

Even if you’re not quite ready to buy, your Realtor® can be an absolute wealth of information, and can often offer ‘scoops’ on local developments you might not know about otherwise.  Speak to your Realtor® first so that he or she can help guide you right from the start.

2.  Find out what your price range is

Online mortgage calculators are a good place to start, but as you get closer to being ready to buy, there is no substitute for a written mortgage pre-approval.  Just speaking to your lender is an extremely worthwhile venture – this is the only way to really get an in-depth picture of your overall financial picture and to discover exactly what you can reasonably afford to spend on a home (and possibly on renovating).

3.  Find out what your local market looks like

The internet can be incredibly valuable in doing preparatory research.  Be aware though that, not all the information you'll find may be accurate.  Start with your Realtor® – he or she can direct you to valuable resources and immediately start e-mailing you real estate listings that may interest you.

4.  Find out what your true needs and wants are

Put together a needs/wants list that takes into consideration your local market conditions, your price range, and the advice of your Realtor®.

5.  Find your dream home!

Once you’re ready to make your move, you may be surprised by how quickly the process will proceed.  Armed with your pre-approval, some market knowledge, and your needs/wants list, call your Realtor®, hit the pavement, and when you see ‘the house’, put in an offer. 

With the right team behind you, it really can be that easy!


Your Calculator


Find out what you can afford! Our mortgage calculator will help you determine loan amounts, mortgage qualification, or whether you should be renting or buying.

Complete the fields below (e.g., Cost of Home, Down Payment, Monthly Income) and click Calculate Now. To view the different results of your calculation, click on the various tabs. To mail yourself a copy of your results, click the Receive this Detailed Analysis link.

Required Fields
Term In Years:     
Interest Rate:      %
Cost of Home:  $
Down Payment:  $  
Annual Insurance:  $  
Estimate Insurance to 0.43% of Cost
Annual Property Tax:  $  
Estimate Tax to 1.2% of Cost
Monthly Income:  $
Monthly Debt:  $
Optional Fields
Gross Debt Service Ratio (GDS):     
Total Debt Service Ratio (TDS):     
Condos Fees:  $
Results
  Receive this Detailed Analysis

Your Monthly Payments
 
Loan Amount:
Loan Insurance (%):
Total Loan (Mortgage) Amount:
 
Principal & Interest:
Homeowners Insurance:
Property Taxes:
Condo Fees:
Monthly Loan Insurance (%):
Total Monthly Payment:
Income Needed to Qualify for the Mortgage
Total Monthly Loan Payment:
Total Monthly Debt Payment:
Monthly Loan Insurance (%):
Qualifying Income of % GDS Ratio:
Qualifying Income of % TDS Ratio:
What You Can Afford
We are using the % ratio.
Cost of House:
Down Payment:
Loan Value:
Monthly Principal & Interest:
Monthly Insurance:
Monthly Property Tax:
Monthly Condo Fees:
 
Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] /
(monthly interest rate/ function of interest rate)
Renting
Monthly Rent: $
Annual Rental Increases:  %
Monthly Renter Insurance: $
Savings or Investment Rate:  %
 
Owning
Planned # of years in home: 
Yearly appreciation of the home:  %
Annual home maintenance:  %



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