Ready To Crunch Some Numbers?
Determine all your sources of income and calculate what they add up to each month. This will help you figure out the potential amount of your future home loan based on annual gross income. Remember to include revenue from alimony, investment profits or rental earnings. If you have a co-buyer, include their income and assets in the calculation.
Monthly Liabilities
Start with listing all your monthly financial liabilities such as your car payment, credit card debt, utilities and any monthly obligations.
Down Payment
Been saving for a Down Payment? Typically any amount of funds contributed to the Down Payment will lower the amount of the loan and provide a lower monthly payment. Savings, Family Gifts, Investment and Retirement accounts can be used for a Down Payment. Some conditions may apply. This where your aie capital mortgage advisor can assist you with structuring a custom mortgage solution based on your specific financial situation.
Credit Scores
Credit Scores are an important piece of the homeowner journey, but its not the whole story. The advisors at aie capital provide guidance on the best method to leverage your credit rating and steps to protect it through the homebuying process.
Consider Additional Home Costs
There are other housing-related costs such as property taxes, homeowners insurance and mortgage insurance that are a primary metric in the mortgage process. The knowledgeable advisors at aie capital are skilled at sizing these costs and customizing your mortgage solution.