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CategoriesLatest in Blog- Should You Buy A New Home Or A Resale Real Estate Professional Marc Oster Helps You Make Your Choice
- What Area of Colorado Should You Buy In?
- Here are the 3 most common mistakes Investors Make when Buying Foreclosures, by Investing Expert Marc Oster
- Getting a mortgage not for the faint of heart to buy a home in Greeley Colorado
- Real Estate Agent Marc Oster Discusses The 4 Things Every Renter Should Know
- Rent and Income Property, by Marc Oster, Greeley Colorado and Weld County Real Estate Agent
- The Perfect Real Estate Agent - A Listener and an Adviser, by Marc Oster, an Experienced Expert in the Greeley Colorado and Weld County Market
- Is A Fixer-Upper Right For You?, by Marc Oster, Greeley Colorado and Weld County Real Estate Expert
- Real Property or Personal Property?, by Marc Oster, Greeley Colorado and Weld County Real Estate Expert
- How to Find the Right Neighborhood when Purchasing a New Home in Greeley Colorado and Weld County, by Marc Oster, Real Estate Expert in Greeley Colorado and Weld County
VC Funding Resources
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What Can You Afford? |
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Providing valuable resources for our Greeley Colorado and Weld County Real Estate Buyers and Sellers is our top priority.
Now that you have made the decision to buy, it is important to figure out what you can buy.
Lenders will look at your current budget (income, assets, and debts), and how much you would like to down pay and calculate two ratios to determine how much they are willing to lend. The first ratio sets a limit on what they think you can spend on housing.
For example, a 28% housing ratio means your
projected housing cost should be less than 28% of your gross monthly
income. These numbers are all flexible depending on your down payment.
Generally, the bigger your down payment, the less your monthly payment
will be. People can usually afford a house 2.5-3 times their gross
annual income. The second ratio compares monthly debt obligations to
monthly income.
After all this is calculated, you can get pre-approved for a loan. This
will tell you officially how much you can afford and what your monthly
payments will be. Also, this tells the seller you can afford to buy
their home. Often buyers can use their pre-approved status as leverage
during negotiations.
Questions about Greeley Colorado and Weld County Real Estate?
Ask us below or Call us Now at 970-614-5000
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Last Updated ( Tuesday, 29 July 2008 )
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Service areasInformation on this website for real estate in Fort Collins, Frederick, Greeley, Evans, Johnstown, Milliken, Longmont, Loveland, and Windsor Colorado is deemed to be reliable but not guaranteed. Listings for real estate and properties in Fort Collins, Frederick, Greeley, Evans, Johnstown, Milliken, Longmont, Loveland, and Windsor Colorado provided by Y & M Real Estate LLC. Listings data may be useful for many Northern Colorado areas including Fort Collins, Frederick, Greeley, Evans, Johnstown, Milliken, Longmont, Loveland, and Windsor Colorado.
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