Buying Your First Home? REALTORS® Are Your Professional Guides. Make Sure You Choose Top Experts. 

How Much Can You Afford? 

Before you can begin to search for a new home, you need to determine your budget and estimate how much you can afford. One of the most important factors in figuring out your financial budget is getting pre-approved for a mortgage. 

Pre-Qualification vs. Pre-Approval 

Pre-qualification is not a mortgage approval but simply an estimate of what you can afford. The lender asks basic information regarding your income, monthly debts, credit history and assets, and then uses this information to calculate an estimated mortgage amount. Based on what you say, the lender has not committed to your loan, therefore you have not received guaranteed funds. 

Pre-approval is a bona-fide loan decision based on the applicant’s credit report, verification of income, asset and debt information provided by the customer and information provided during the application. When a mortgage lender issues a pre-approval it means that they will fund the loan pending a satisfactory appraisal of property, a title report, and purchase contract. 

When you get pre-approved for a mortgage, you are a stronger buyer with a greater chance of having your offer accepted. 

Call for a Pre-Approval from Coldwell Banker Home Loans At: 1-877-242-6658 

You might be a bit afraid or intimidated by the whole process of buying your first home. As top Tenafly, Closter, Demarest, Cresskill, Haworth, Alpine and Teaneck real estate expert, it's my job to guide you, from beginning to end. 

I will take the time to go through each and every step of the buying process. There are no dumb questions! 

Together, we will consider: 

- How much can you really afford? 

- How to qualify for a mortgage. 

- How much cash you should put down. 

- How to buy a home with little or nothing down. 

- What it takes to get approved for financing. What banks and other financial institutions are looking for. 

- How much your payments will be. 

- The tax advantages of buying. 

- Is renting or buying better for you? 

Tell me a bit about your situation below. I'll get right back to you. There is absolutely no charge, and we offer this to you with no strings attached. 

New to the home buying process? Tell us your concerns. Ask us questions. It's our job to help! There's no obligation, and we promise to get back to you quickly...