How Much

House Can You Afford?

How Much Home Mortgage Can You Get Pre-Approved For?

Apply Online Today

Deciding how much house you can afford is a personal decision. Many factors come into play. How much can I borrow?  How much can I put toward my down payment?  What size monthly payment can I afford? 

There are no black and white answers to these questions.  The first thing you need to do is visit my "Are You Pre-approved?" page. There you will find out how and why you need to be pre-approved for a mortgage. There are almost NO Sellers left that will accept an offer to purchase if you are NOT Pre-Approved for a home mortgage. Both you the buyer and the seller NEED TO KNOW YOU CAN PURCHASE! It cost you Nothing to apply online or on the phone to become Pre-Approved for a home mortgage nor does it Obligate you in any way.

You owe it to yourself to get Pre-Approved. Do it right here right now, it's Easy, Fast and cost you Nothing.

How large a down payment can I make?

Many buyers look at their cash on hand as their only source for their down payment.  This simply is not the case. One way to fund or partially fund a down payment is by using a gift.   Parents, grandparents and other family members are often eager to help by making a cash gift toward the purchase of your home. 

There are also down payment assistance programs, like AmeriDream  that can help you.  And, of course, if you are selling a home, the equity you've built up can be applied to your down payment.

But these are not your only options.  We can help you explore all your down payment options, including low down payment  (100% VA Financing Still Avaliable) mortgage financing options like "My Community" home loans, FHA and VA home mortgage programs that might be perfect for you. 

What size monthly payment can I afford?

When determining what size monthly payment you can afford, youll want to consider what other monthly expenses you have.   Tangible expenses such as car payments, day care and utility bills, all play a role in how large a monthly payment you can afford. 

There are also the intangible expenses or lifestyle expenses that youll want to consider.  Things such as dining out, travel and when you buy your next car can effect how much you can afford.  Are you willing to curtail or delay some of these expenses in order to afford a larger monthly payment? 

How much can I borrow?

This is a question youll want to get answered before you begin your home search.   This is something that I am here to help you with.  Follow this link to "When to Get Qualified", or visit my mortgage calculators page that will help you see how your down payment, monthly payment and the amount you borrow are all interrelated. 

I can answer any questions you may have about the mortgage process.  But the best way I can help is by getting you pre-Approved for a home mortgage at NO Cost or Obligation to you. 

To get started, simply complete the form below and let me know a good time to contact you, or give me a call.  I look forward to helping you buy your dream home.

And remember their is NO cost or Obligation for the application or the loan approval. You owe it to yourself and you have nothing to lose.

phil@wilmingtonmortgagegroup.com