Check out my most recent book release "The 10 Principals Of Effective Social Media Marketing" for more insights on growing your brand online! | Check out my most recent book release "The 10 Principals Of Effective Social Media Marketing" for more insights on growing your brand online! | Check out my most recent book release "The 10 Principals Of Effective Social Media Management" for more insights on growing your brand online!

Check out my most recent book release "The 10 Principals Of Effective Social Media Marketing" for more insights on growing your brand online! | Check out my most recent book release "The 10 Principals Of Effective Social Media Marketing" for more insights on growing your brand online! | Check out my most recent book release "The 10 Principals Of Effective Social Media Management" for more insights on growing your brand online!

Check out my most recent book release "The 10 Principals Of Effective Social Media Marketing" for more insights on growing your brand online! | Check out my most recent book release "The 10 Principals Of Effective Social Media Marketing" for more insights on growing your brand online! | Check out my most recent book release "The 10 Principals Of Effective Social Media Management" for more insights on growing your brand online!

Most Common Questions

Most Common Questions

What’s the Most Common Question First-Time Home Buyers Ask?

Buying your first home is one of life’s biggest milestones. It’s exciting – but it can also feel overwhelming, especially with so many questions running through your mind.

The most common question we hear from first-time home buyers is: “How much can I afford?”

Why “How Much Can I Afford?” Is the Top Question

Before you start browsing listings or scheduling showings, it’s crucial to know your budget. Here’s why this question matters so much:

Avoid disappointment: Falling in love with a home outside your price range can lead to heartbreak.
Streamline your search: A clear budget helps you focus on homes that truly fit your finances.
Prepare for pre-approval: Lenders consider income, debts, credit, and down payment when calculating your maximum loan.

How to Figure Out What You Can Afford

1. Calculate Your Debt-to-Income Ratio (DTI)

Lenders typically want a DTI below 36%. This means all your monthly debts — including the mortgage — shouldn’t exceed 36% of your gross monthly income.

Example:

Gross monthly income: $5,000
36% debt allowance: $1,800
Existing debts (car, loans, credit cards): $400
Safe mortgage budget: $1,400

2. Plan for the Down Payment and Closing Costs

Down payment: Usually 3–20% of the home’s price.
Closing costs: Typically 2–5% of the loan amount (fees, taxes, insurance).

3. Budget for Ongoing Homeownership Expenses

Don’t forget the extra costs that come with owning a home:

Property taxes
Homeowners insurance
HOA dues (if applicable)
Maintenance and repairs
Utilities (often higher than rent)

The Importance of Getting Pre-Approved

A mortgage pre-approval shows you what you can afford and proves to sellers that you’re serious. In competitive markets, having a pre-approval letter can make the difference between winning and losing a home.

Key Takeaways for First-Time Home Buyers

✔️ Focus on what you can comfortably afford, not just what the lender approves.
✔️ Get pre-approved before shopping for homes.
✔️ Work with a trusted lender and real estate agent for expert guidance.

Ready to Buy Your First Home?

If you’re preparing to buy a home, I’d love to help guide you through the process. From setting your budget to closing day, I’ll make sure you feel confident at every step.

📞 Contact me today to start your journey toward homeownership.

What’s the Most Common Question First-Time Home Buyers Ask?

Buying your first home is one of life’s biggest milestones. It’s exciting – but it can also feel overwhelming, especially with so many questions running through your mind.

The most common question we hear from first-time home buyers is: “How much can I afford?”

Why “How Much Can I Afford?” Is the Top Question

Before you start browsing listings or scheduling showings, it’s crucial to know your budget. Here’s why this question matters so much:

Avoid disappointment: Falling in love with a home outside your price range can lead to heartbreak.
Streamline your search: A clear budget helps you focus on homes that truly fit your finances.
Prepare for pre-approval: Lenders consider income, debts, credit, and down payment when calculating your maximum loan.

How to Figure Out What You Can Afford

1. Calculate Your Debt-to-Income Ratio (DTI)

Lenders typically want a DTI below 36%. This means all your monthly debts — including the mortgage — shouldn’t exceed 36% of your gross monthly income.

Example:

Gross monthly income: $5,000
36% debt allowance: $1,800
Existing debts (car, loans, credit cards): $400
Safe mortgage budget: $1,400

2. Plan for the Down Payment and Closing Costs

Down payment: Usually 3–20% of the home’s price.
Closing costs: Typically 2–5% of the loan amount (fees, taxes, insurance).

3. Budget for Ongoing Homeownership Expenses

Don’t forget the extra costs that come with owning a home:

Property taxes
Homeowners insurance
HOA dues (if applicable)
Maintenance and repairs
Utilities (often higher than rent)

The Importance of Getting Pre-Approved

Key Takeaways for First-Time Home Buyers

✔️ Focus on what you can comfortably afford, not just what the lender approves.
✔️ Get pre-approved before shopping for homes.
✔️ Work with a trusted lender and real estate agent for expert guidance.

Ready to Buy Your First Home?

If you’re preparing to buy a home, I’d love to help guide you through the process. From setting your budget to closing day, I’ll make sure you feel confident at every step.

📞 Contact me today to start your journey toward homeownership.

What’s the Most Common Question First-Time Home Buyers Ask?

Buying your first home is one of life’s biggest milestones. It’s exciting – but it can also feel overwhelming, especially with so many questions running through your mind.

The most common question we hear from first-time home buyers is: “How much can I afford?”

Why “How Much Can I Afford?” Is the Top Question

Before you start browsing listings or scheduling showings, it’s crucial to know your budget. Here’s why this question matters so much:

Avoid disappointment: Falling in love with a home outside your price range can lead to heartbreak.
Streamline your search: A clear budget helps you focus on homes that truly fit your finances.
Prepare for pre-approval: Lenders consider income, debts, credit, and down payment when calculating your maximum loan.

How to Figure Out What You Can Afford

1. Calculate Your Debt-to-Income Ratio (DTI)

Lenders typically want a DTI below 36%. This means all your monthly debts — including the mortgage — shouldn’t exceed 36% of your gross monthly income.

Example:

Gross monthly income: $5,000
36% debt allowance: $1,800
Existing debts (car, loans, credit cards): $400
Safe mortgage budget: $1,400

2. Plan for the Down Payment and Closing Costs

Down payment: Usually 3–20% of the home’s price.
Closing costs: Typically 2–5% of the loan amount (fees, taxes, insurance).

3. Budget for Ongoing Homeownership Expenses

Don’t forget the extra costs that come with owning a home:

Property taxes
Homeowners insurance
HOA dues (if applicable)
Maintenance and repairs
Utilities (often higher than rent)

The Importance of Getting Pre-Approved

Key Takeaways for First-Time Home Buyers

✔️ Focus on what you can comfortably afford, not just what the lender approves.
✔️ Get pre-approved before shopping for homes.
✔️ Work with a trusted lender and real estate agent for expert guidance.

Ready to Buy Your First Home?

If you’re preparing to buy a home, I’d love to help guide you through the process. From setting your budget to closing day, I’ll make sure you feel confident at every step.

📞 Contact me today to start your journey toward homeownership.