1. Agent Represented Properties-Search the local multi-list which lists every property listed by every agent from nearly every real estate company in the Western PA region (including ours). Property type searches include: Residential, Farm-Acreage-Land, Commercial-Industrial, Multi-Unit, To Be Built, and Properties for Lease.
2. Zillow.com- A search on Zillow, expands your local multi-list search to include properties being sold For-Sale-by-Owner.
To understand what you can and cannot afford, comfortably, is important to know as you begin searching for your dream home. To help focus your search, and to help assure you are looking at dream homes you can afford, click on either of the calculator links below to launch that calculator. Please know that we selected these calculators for quality of output and ease of use. We have no affiliation with either organization nor endorse their lending products if any.
Find out how much home you can afford.
Quick Mortgage Payment Calculator: Compute your mortgage payment quickly with this excellent on-line calculator from U.S. Mortgage. Useful tips: For Mortgage Details section, select % for down payment box and enter: 0% down for VA, Navy Federal, and USDA loans, 3.5% down for FHA loans (most common), and 5% or more down, with (PMI- personal mortgage insurance) for Conventional loans. The PMI percentage will default based on % down entered. For Homeowner Expense section, use dollar figures for Property Taxes and Home Owners Insurance.
Now that you know what you can afford, use that data when searching for a new dream home or other property. As you continue your search, take a few minutes to view our pages Buy My Dream Home and Saving Buyers Thousands.
Meeting with a Lender
Please know that using either of these calculators does not replace the real benefit of meeting with a lender. When you meet with the lender, your goal is to better understand exactly what you can afford. For that, you are looking for the lender to provide you with a:
1. Pre-approval- this is where you prove to the lender what you told them earlier. Proof will come from income tax forms (last two years), W-2's (last two years) credit reports, current pay stubs (last two months), bank statements (last two months), and asset documentation (401K, IRA, retirement statements, etc.), other sources of income, employment gap letter, copy of your driver's license, copy of any current leases, etc.
A pre-approval letter, from the lender, IS the document you will need to get the seller to accept your Agreement of Sale for the property as it helps assure the sellers that the deal won't fall apart because you can't get a loan.
2. Loan Estimate- a thee page document that will include the Loan amount, interest rate and estimated monthly payments, itemized closing costs and how much cash you'll need at closing, your total costs in the first 5 years of the loan, the annual percentage rate (APR) and total interest percentage (TIP), how much late payments will cost, how often the payments can change, and by how much (if it's an adjustable-rate mortgage), and whether the loan is assumable, and other important elements.
Got questions?Ready to save thousands in wasted commissions when buying your dream home?
Call Max at 412-552-9811 to
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discuss your situation, vision for the future, your process goals, wants and needs, and the time you are willing to engage in the buying process
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