Skip to main content

dream home

Your credit score will give information to future lenders about your creditworthiness. This tells them how good you have been in maintaining your records, such as paying bills on time, no defaults, how you manage your credit cards and other debts. Is their any negative remarks against your name etc.In case you find a suspicious activity against your name on credit report, report immediately in writing to all three major credit score companies. This report also can be used to fix any wrong address or name in credit report. Bottom line this report lets you know where you stand on credit rating and how good chances are of getting a loan on a decent interest rate. The higher credit score means more attractive loan offers from lenders.

Once you have checked your credit score and are satisfied with the needs of lending companies, next thing comes checking your financial situation. First thing what is your current assets vs. current debts. Are you in position to keep a large portion of salary aside for future mortgage payments without disturbing current obligations.

Do simple math, if your salary take home is $5000 and your current expenses including any debt payments are around $2000(including rent $1000). That means you are left with $3000 in your bank. If you are looking a house for which monthly payment will be $2000 and after deducting from remaining balance you are left with $1000. Next deduct your property tax from $1000. Let's assume another $400 dollars (Property tax vary from state to state). You are left with $600. You still need to factor in home insurance, landscaping, misc. cost related to owning a home

Comments

Post a Comment

Popular posts from this blog

Learning about Architectural Ironmongery

Architectural Ironmongery, or simply Ironmongery, refers to the use of iron to form new products, used in building and construction industry. It is derived from the field of iron industry. Iron is a hard metal. It has wide spread applications in the manufacture of home and industrial hardware. In Architectural ironmongery, high quality metal is used for making items in order to prevent corrosion. It has transformed into a whole industry. In industry, the most sophisticated instruments are used to make various products like banisters, handles railings, windows, door knobs, overhead closers, cupboard and many other accessories. During the construction of the house, the architecture of the house goes through various phases and steps. Each step has to be done on right time, in the right place and with the correct mood. After the structure of the house is complete, architectural ironmongery is the next step in the construction of the house. You may choose the accessories of the house on the
1 comment
Read more

Reasons to Survey your land

Although a land survey may seem tedious and unnecessary, in fact there are many cases in which you should have your land surveyed, to save confusion or legal troubles later. If you have two surveys done, they will nearly always have slight differences, because land surveying is as much an art as a science. Measurements are always subject to error. In land surveying, these measurements are often taken from landmarks such as fence posts; in two separate surveys, the same landmarks may not be available, or may have shifted. A land surveyor will research the documents available about your land, including titles and previous surveys. Then, they will physically measure the property, and check these dimensions against the previous records to find any discrepancies. Land surveyors can also use electronic equipment, GPS positioning, or other devices to determine the boundaries of your property. You should always consider a new land survey if you are buying a piece of real estate. Even though ma
1 comment
Read more

Common home building proablem

Contracting your own home is a noble undertaking, and one that requires a good bit of pre-construction planning. It is important to anticipate things that can go wrong in the building process. Mistakes can be very costly to overcome, so becoming aware of some of the common problems that plague home builders, from novices to experts, is in order. Following are some of the major things to watch out for. Inadequate planning. Don't jump into the project without a complete and well thought out plan. All your decisions--from design to construction methods to decorating--should be made from the start and there should be nothing left to chance. Since this is likely your first major construction project, it is important to gain as much knowledge as possible about every phase of the process, including the pre-construction tasks such as estimating and time management scheduling. In fact, these planning tasks will set the stage for the overall success of the entire project. Many people
1 comment
Read more