Buying a home in Virginia Beach.

How Much Home Can You Afford to Buy?  Let Resh Realty Group Explain?

There are many ways to determine the amount of home you can afford.

One of the most important things you can do before you go house hunting is to get pre-qualifed for a mortgage. This is free and easy and I will explain in detail in my article "Getting A Mortgage". By knowing the maximum value of home you can afford to buy, saves time for both you, your realtor and the seller. It means you will not be wasting everyone's time looking at homes you cannot afford to buy. Always use a realtor since it does not cost you a penny and sometimes can save you thousands of dollars.

Buyers are rarely able to estimate the cost of the home they can afford. A realtor is invaluable in helping you make this very important decision. While you are calculating you maximum home purchase, be sure to also estimate the amount  you will need for closing costs and down payment.

Better yet, have your realtor send you to a reputable lender who can pre-qualify you for a loan and at the same time give you a letter that can be used to provide the seller proof that you are a great candidate to purchase his home. Sometimes this pre-qualificaton lettter is the difference in whether or not the seller will accept your offer. A strong endorsement from the lender is like gold in the eyes of the seller.

Our next article will delve further into the loan process.

Meanwhile, if you are interested in looking at full color photos of all homes available in Hampton Roads, be sure to visit our website at http://tchambers.reshrealtygroup.com here you can set up a wizard that will allow you to receive full color photos of all homes that match your interests in you email each day. This feature allows you to be notified immediatley when a new home that matches your needs comes on the market.

There is no obligation as it is completely free as is the service of all the Resh Realty Group Agents. These agents are specifically trained to work with both buyers and sellers and they have been able to get better prices for their buyers and sellers here in Hampton Roads compared to that of other realtors.