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Serving the
Wisconsin Fox Valley communities of: |
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Specializing in Wisconsin Buyer
Agency and |
Phone H.
Strobl Realty at:
920-731-9232 - 920-810-4616 - 877-296-5122
Phone H.
Strobl Realty at:
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Disclaimer: The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange program of the RANW MLS. Real Estate listings held by brokerage firms other than H. Strobl Realty, Inc. include the name of the listing broker. Only listings of Brokers participating in IDX are included. 2002 REALTORS® Association of Northeast Wisconsin Multiple Listing Service. All Rights Reserved.
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When you want to buy new clothes, you simply go to the store, make your selection and pay – cash or credit. Buying a new home, because of the price tag, is a lot different. Few people have the ability to go shopping, choose a house and pay cash. Rather, most people pay a cash down payment on their new home and finance the remainder of the purchase price with a mortgage loan. A mortgage requires you to pledge your home as the lender’s security for repayment of your loan. Since financing is a key issue in most sales contracts, one of the first things you should do is to figure out how much house you can afford – how large of a mortgage loan you qualify for. Lenders use certain guidelines to determine the mortgage amount they will lend you. The two guidelines used are housing expenses and long-term debt. Lenders generally say that housing expenses (including mortgage payments, insurance, taxes and special assessments) should not exceed 25 percent to 28 percent of your gross monthly income. Long-term debt is usually defined as monthly expenses extending more than 10 months into the future and should not exceed 33 percent to 36 percent of your gross monthly income. These numbers may vary according to loan type, credit and down payment. Many loans today allow up to 33 percent for the housing to income ratio and 38% for the total debt to income ratio. A wide selection of mortgages is available to you in the marketplace. Your challenge is to select the loan terms that are most favorable to you. Mortgage Calculators
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All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor the owners of this site nor RANW MLS, Inc. shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. |
