“My husband and I own a P.B. condo and we really want a house with a yard for the kids and a double garage. Our condo is worth about $700,000, so we should net $300,000 after expenses and paying off the loan. How much house can we afford to buy?”
Down payment is but one factor in determining the maximum home price you qualify for. Others include your income, debts, and credit score.
And of course, another big factor is what payment you’re comfortable with.
Let’s have you and your husband talk with our preferred lender. He’ll give you specific answers, along with several options. Call me at (858)457-KENT and I’ll put you two in touch.