Whether you’re buying your first home or just need a refresher, we’ll walk you through all the steps involved in buying a new home. Use our mortgage calculators and other resources to help you choose a loan, and find out how much you can afford.
To get started with the prequalification process, give Bill a call at (301) 941-1992.
How much mortgage can I afford to borrow?
Your income, credit history, the size of your down payment, and your employment and residence history are all factors in how much you can borrow. Depending on circumstances, the amount you can borrow may exceed the amount you can comfortably afford – so it pays to borrow cautiously. Here are some easy-to-use mortgage calculators that can help you determine just how much you can afford.
What will I need to pay up front?
Some costs associated with buying a home show up before you start making regular mortgage payments. These include:
- Earnest money
- Down payment
- Closing costs
- Mortgage application fees
- Mortgage points
- Attorney’s fees
- Inspections and surveys
- Title insurance and title search
- Escrow deposit
- City recording fees