Buying a home

Homebuyers who have used a buyer's agent agree that buying a home can be daunting from scoping out locations,viewing properties,what information and forms are needed! So choose a Realtor^® buyer's agent who's working for you to assist in the process. So no need to call around to all the listing companies and agents of homes that interest you.

Ask Me to explain" Working with a REAL ESTATE AGENT and the steps by step process of purchasing a home

http://www.ncrec.state.nc.us/pdf/brochures/WorkingwAgents.pdf

		agency form Standard Agency form that all REALTORS should explain to you
		Use a Buyers Agent Have an agent who WORKS FOR YOU. This article will help you understand the importance of working with an agent.
		Buying Your First Home? Many renters are starting to think about purchasing a home of their own. This article highlights several factors that should be considered when purchasing a home.

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Calculators

Let me help you find out what you can afford! The mortgage calculator will help you determine loan amounts, mortgage qualification,ect for targeting the correct purchase price range.

Complete the fields below (e.g., Cost of Home, Down Payment, Monthly Income) and click Calculate Now. To view the different results of your calculation, click on the various tabs. To mail yourself a copy of your results, click the Receive this Detailed Analysis link.

Required Fields
	Required term in years Must be a number between 1 and 50
Term In Years:
	Required interest rate Must be a number between 1 and 100
Interest Rate:	%
	Required cost of home
Cost of Home:	$
	Required down payment Cannot be more than Cost of Home
Down Payment:	$
	Required annual insurance
Annual Insurance:	$
	Estimate Insurance to 0.43% of Cost
	Required annual property tax
Annual Property Tax:	$
	Estimate Tax to 1.2% of Cost
	Required monthly income
Monthly Income:	$
	Required monthly debt
Monthly Debt:	$
Optional Fields
Gross Debt Service Ratio (GDS):
Total Debt Service Ratio (TDS):
Condos Fees:	$

Results

Receive this Detailed Analysis

Mortgage
Qualification
Affordability
Rent vs Buy

Your Monthly Payments

Loan Amount:
Loan Insurance (%):
Total Loan (Mortgage) Amount:

Principal & Interest:
Homeowners Insurance:
Property Taxes:
Condo Fees:
Monthly Loan Insurance (%):
Total Monthly Payment:

Income Needed to Qualify for the Mortgage

Total Monthly Loan Payment:
Total Monthly Debt Payment:
Monthly Loan Insurance (%):
Qualifying Income of % GDS Ratio:
Qualifying Income of % TDS Ratio:

What You Can Afford
We are using the % ratio.
Cost of House:
Down Payment:
Loan Value:
Monthly Principal & Interest:
Monthly Insurance:
Monthly Property Tax:
Monthly Condo Fees:

Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] / (monthly interest rate/ function of interest rate)

Renting
Monthly Rent: $	RequiredMust be a positive number
Annual Rental Increases:	RequiredInvalid%
Monthly Renter Insurance: $	RequiredInvalid
Savings or Investment Rate:	RequiredInvalid%

Owning
Planned # of years in home:	RequiredInvalid
Yearly appreciation of the home:	RequiredInvalid%
Annual home maintenance:	RequiredInvalid%