Buying Property

Decide What You Can Afford

Before you start hunting for that dream home, figure out how much house you can afford. Otherwise you'll end up frustrated and disappointed when you find the perfect home only to discover that you can't afford it. Get the financial information you'll need, now. For example, find out how large a mortgage you can comfortably handle, how big a down payment you can make, and how large a house payment you can afford. You can quickly and easily get the answers to these and other financial questions by contacting us and by using these automated calculators:

• Should You Rent Or Buy?
• How Much Can You Afford?
• How Much Income Do You Need To Qualify?
• Cost Of Living
• Mortgage Payment Calculator.
• Current Interest Rates.

When you are completing on your new home, besides your down payment and surveyor's fees and homeowner's insurance premiums, you'll also need money for certain other costs, known as completion costs, that may include:

• Title insurance fee,
• Survey fees,
• Mortgage Arrangement fee,
• Solicitor's fees or escrow fees,
• Document preparation fee,

If cash is limited, some mortgage lenders will allow the seller to pay some or all of the completion costs and certain completion costs can often be added to the amount of the loan itself.

This is something to keep in mind when you’re selecting a mortgage lender.