i am moving to north carolina later this year, i have $50,000 deposit for a home but obviously i don't want to use it all... what fees am i looking at? what amount of mortgage should i be looking at? and most improtant of all how do i know if the area i am looking at is a good area or not. the last thing anyone wants is to move into a high crime area....
2007-03-07 04:31:29 · 5 answers · asked by ladydunraven 2 in Business & Finance ➔ Other - Business & Finance
as much as u want i guess... or as much as u r qualified for just talk to a realator
2007-03-07 04:33:43 · answer #1 · answered by booty boy 1 · 0⤊ 0⤋
Hold on a minute.. Rent for a year and learn the area---- Your $$ will still be there in a year. As for how much home to buy and the fees--- well not enough info here! salary Debt ratio line of work credit scores and credit history, all are important. The fees can always be negotiated as to what you will pay. BUT no firm works for free. How long will you live there? 2 years or less-- no cost loan--3-5 years middles of the road fees-- 5+++ years Take the high cost loan. The only reason for this is --mortgage lenders are allowed only so much in fees. Take your settlement statements to your tax preparer. The higher the fees the lower the repayment rate should be. The lower the fees then the higher rate you will pay.
I hope this helps
I am a mortgage banker in TN & KY
2007-03-07 04:39:34 · answer #2 · answered by golferwhoworks 7 · 0⤊ 0⤋
All of your questions can be answered by a competent, licenced real estate agent. They'll be delighted to help you. Look up a reputable agency in the area you'll be moving to and call them up.
2007-03-07 04:34:10 · answer #3 · answered by charmedchiclet 5 · 0⤊ 0⤋
I think you should find a realestate agent in that area and have them do the work for you. They will need your income if you want them to figure out what you can afford.
2007-03-07 04:34:26 · answer #4 · answered by Shelly t 6 · 0⤊ 0⤋
www.realtor.com
2007-03-07 05:32:59 · answer #5 · answered by ropman1 4 · 0⤊ 0⤋