To my Potential Homebuyers;

Are you thinking of buying a home? Well, what are you waiting for? Let’s work together to start planning your future. I would like to help you do what I do best — find the perfect home for you and your family. Here are a couple of questions you should think about before we meet.

Are you ready to buy a home? Some factors to consider when preparing to buy a home are whether or not you have a steady source of income and if you have been employed on a regular basis for the last two years. Also, how much money do you have saved for a down payment, closing costs, taxes and insurance?  How can you determine what would be a realistic amount of money that you could spend on a mortgage each month? If you are already budgeting $1200-$2000 a month for rent, and you are will to pay the same amount for a mortgage each month, this will help us establish the price range for a home you are able to purchase.

A lender will calculate your debt-to-income ratio, which is a comparison of your expenses to your gross (pre-tax) income. Monthly mortgage payments should total no more than 29% of your gross income, while the mortgage payment, combined with other long-term debts (such as car payments) should not exceed 41% of your gross income. The lender will also take into consideration your credit history and cash available for a down payment when determining your maximum loan amount.  If you don’t currently have a lender, I can recommend a few whom I have dealt with in the past and have referred previous clients.
Once we have established the price range of homes to look at, we can discuss your needs.  Think about where you would like to live (specific counties; like Delaware County, or Chester County, and which towns within those counties, such as Rosemont, Bryn Mawr, Radnor, Havertown, Glen Mills, etc) and how much space you would like to have. When considering possible locations, think about distance to your job, schools, family, etc. It’s best to make a list of your priorities, such as location, size, and amenities. Determine the minimum requirements that the house must have for you to consider it as well as a wish list of perks you would like it to have.  We will be able to select properties that not only meet your requirements but fall into your price range.

I am dedicated to meeting your needs and the more information you share with me, the better I will be able to serve you. Please contact me at 610-609-1096 or Kevin.toll@longandfoster.com to schedule an appointment so we can discuss more about your dream home.