Your Team


Your Agent
A successful purchase starts with the right representative. In fact, once you’ve selected the best agent 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 (Appraiser)
A bank is not just a bank. 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, and 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.

Lawyer
Your home purchase is far too important a transaction to skimp on legal representation at the risk of leaving yourself open to costly future issues. Find a lawyer who is willing to take the time to answer your questions and who specializes in real estate law.

Home Inspector
No home inspection is 100% guaranteed, but 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 agent for a recommendation.

Contractor
Planning some renovations? You’re not the only one! The home renovation industry is booming, and in some markets, booking a contractor must be done months in advance (that’s a long time to go without a kitchen). Don’t let finding the right contractor slip through the cracks – planning ahead will almost certainly make your renovation smoother, and you contractor will appreciate the advance notice. 


Your Plan


1.  Find the right representative

Even if you’re not quite ready to buy, your buyer’s agent can be an absolute wealth of information, and can often offer ‘scoops’ on local developments you might not have know about otherwise.  Speak to your agent first and he or she can be helping to 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.  Start with your agent – he or she can direct you to valuable resources and immediately start e-mailing you real estate listings that may interest you (or at least give you a better idea of what your needs and wants are).

4.  Find out what your true needs and wants are
Compose a needs/wants list that takes into consideration your local market conditions, your price range, and the advice of your real estate agent.

5.  Find your dream home!
Once you’re ready to act, you may be surprised by how quickly you can make a decision.  Armed with your pre-approval, a little market knowledge, and your needs/wants list, call your real estate agent, 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


Let us help you 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:  %

Your Real Estate News

real estate - Yahoo News Search Results

Apollo Commercial Real Estate Finance, Inc. today announced the Company closed two commercial real estate loan transactions totaling $54.5 million. Year-to-date, ARI has committed to invest in over $728 ...

7/23/2014 6:30:00 AM

BBX Capital Real Estate, a division of BBX Capital Corporation , today announced its upcoming plans for Bonterra, its newly proposed master-planned community located in Hialeah, in Miami-Dade County, Florida. ...

7/23/2014 7:00:00 AM

Harvest Properties, a full service commercial real estate investment, development and management firm today announced the company has acquired 55 Hawthorne Street in San Francisco, California from Divco West with longtime partner Invesco Real Estate.

7/23/2014 9:00:00 AM

Maple Leaf is a pleasant neighborhood of mostly detached houses, most built between 1920 and 1959. It has a quaint commercial district and several nice parks. Here are three Maple Leaf homes on the market.

7/22/2014 7:21:58 PM

Morguard Real Estate Investment Trust 2014 Second Quarter Results Conference Call

7/23/2014 9:00:00 AM

BBX Capital Real Estate, a division of BBX Capital Corporation , announced today it has entered into a joint venture agreement with CC Devco Homes - a Codina-Carr Company, to develop approximately 394 ...

7/23/2014 7:00:00 AM

WPT Industrial Real Estate Investment Trust Announces July 2014 Distribution

7/22/2014 2:15:00 PM

Choice Properties Real Estate Investment Trust Reports Results for the Second Quarter Ended June 30, 2014

7/21/2014 3:30:00 PM

Troon Pacific, a San Francisco-based real estate development and investment company that develops environmentally sustainable luxury residences, is pleased to announce that Paul Rabinovitch has joined as Executive Vice President.

7/22/2014 11:49:00 AM

Berkshire Hathaway HomeServices, the real estate brokerage network operated by HSF Affiliates LLC, today announced that Prudential MAC Real Estate has joined the network and is now

7/22/2014 10:21:00 AM