CELL: 931-242-9223

OFFICE: 877-766-2224

Fax: 931-766-2401

Email: TERESAFLORA@YAHOO.COM

 
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Bobby Paterson

Owner/Broker

 

Tommy Brazier

Owner
Text Box: How Much Home You Can Afford   Buyers are often unsure about the financial aspects of buying a home, and you may have many questions swirling in your head. How much can I afford? Do I need a large down payment?   Your home price range will be determined by your income, credit history, the cash you have for a down payment and closing costs, and your debt. How much you earn compared to how much you owe will likely determine how much the bank allows you to borrow.   The financial rule of thumb is: your total monthly debt service, which will include your monthly mortgage, shouldn’t be more than about 36 percent of your gross monthly income. Most experts say that your monthly housing expense, including taxes and insurance, should not exceed about 28 percent of your gross monthly income.   Naturally, every situation is different, and each lender has different rules about working with buyers. A number of choices within your control can affect your monthly payment as well. For example, you might choose an adjustable rate loan, which has a lower initial payment than a fixed rate program. Similarly, a larger down payment may lower your monthly payment.   If you’d like more information about how much home you can afford, please call or email. I can help you get the mortgage information you need. Text Box: The Importance of Pre-approval     Pre-approval can be a very valuable step towards purchasing a home. Many home buyers get pre-qualified for a home loan early on, and then become pre-approved before beginning a serious home search. By completing your mortgage application prior to choosing a home, you can get a pre-approval letter stating how much home you can afford.   Your pre-approval letter lets you know exactly how much you can spend, and it shows home sellers and real estate agents that you’re serious about buying a home. This may give you leverage in the negotiation process. Many sellers actually prefer to work with pre-approved buyers.   To find a mortgage professional and get started with your pre-approval call me and I can help... Text Box: REAL ESTATE FINANCE INFORMATION

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Text Box: WORKING HARD CONNECTING BUYERS & SELLERS TO THEIR DREAMS