Just because your home loan pre qualification goes up to a certain amount doesn’t mean you should buy a home at that maximum price. When you talk to a lender to get pre-approved, it’s often shocking how high of a purchase price you can afford, and it can be tempting to go out and buy a more expensive house.
Your Home Loan Pre Qualification is Different From Your Monthly Budget
It’s never fun having to cut back financially in other areas of your life just because you have high monthly mortgage payments. After you decide to buy a home, it’s important to sit down and analyze your current budget, and decide how much you can realistically put toward your monthly housing payments and still be comfortable in your monthly budget. This will ensure that you don’t wind up with an expensive monthly housing payment that sacrifices your current standard of living, before you get a home loan pre qualification.
Are you thinking of buying a home in Northern Virginia I work with a lot of homebuyers, and I specialize in helping first time homebuyers. I’d love to help you during this exciting phase of your life!
Call me at 703-462-0700 or email me at DarrenRobertsonHomes@gmail.com to find out if you qualify for a zero money down home loan!