The amount you can afford to pay for a home will depend on your income, debts, and financial goals, as well as the size of your down payment and the terms of your mortgage. A mortgage lender can help you determine how much you can afford, so it’s important to get pre-approved. I’d be happy to recommend some amazing lender partners, if you want to get started.

The real estate market is constantly changing in the Hampton Roads, but often times, it is more cost-efficient to buherey a home rather than rent one. When you rent, you’re paying your landlord’s mortgage. When you buy, you’re paying your own mortgage! There also are financial perks like tax deductions and home equity that come along with owning a home. We can compare all your options in a Buyer’s Consultation, which you can schedule here.

To get pre-approved for a mortgage, you will need to provide some financial information to a trusted lender, such as your income, debts, and credit history. The lender will then review this information to determine how much you can borrow and at what terms. Pre-approval is an important step in the home buying process as it can give you an idea of your budget, as well as help you move quickly when you find a home you want to buy.

When it comes to financing a home, it’s important to shop around for the best mortgage terms. Many buyers start with their own personal banking institutions or credit unions. The federal government offers competitive loan programs for first-time homebuyers, as well. You should compare mortgage rates from several lenders before selecting the one that is best for you.