Austin Real Estate Update

Here are the basic rules of thumb:

Your mortgage payment can’t be any higher than 28% of your gross monthly income per in most cases.  However, only you can determine the monthly payment you can afford by analyzing your expenses, goals, and spending habits.

A lender can't tell you what you can afford; a lender can only tell you how much they are willing to lend you after looking at your financial situation.

A mortgage lender will also take into consideration your monthly payments for other debts, such as student loans, car loans, and credit card payments, your credit history, and cash available for down payment and closing costs when determining your maximum loan amount.

A good way to find out how much you can borrow is to get pre-qualified with a lender.  They will investigate your financial situation through your credit report and documents you provide, then give you a pre-approval letter for the most you can purchase.  

A pre-approval letter is a good document to have when you go to look for your home.

Bad Credit, No Credit, Self Employed, No Problem!  We know the lenders who can get you a loan.  Call Premiere Team Real Estate Now for a FREE list of our “Preferred Lenders!” We specialize in helping people buy Austin Texas homes, Cedar Park Texas homes, Leander Texas homes, Pflugerville Texas homes & Round Rock Texas homes - 512-345-1919