Are you excited about the prospect of owning a home but unsure where to start? Hall Financial is here to guide you through the financial aspects of your home buying journey.
One of the most crucial steps is determining your budget. With our expertise and nearly 7,000 5-star reviews, we’ll help you understand how much house you can truly afford, ensuring a smooth and stress-free experience.
A Simple Way to Estimate Your Budget:
A good rule of thumb is the 28/36 rule:
- 28% Rule: Your monthly housing costs (mortgage payment, property taxes, insurance) should not exceed 28% of your gross monthly income.
- 36% Rule: Your total debt payments, including your housing costs and other debts (car loans, student loans, credit cards), should not exceed 36% of your gross monthly income.
Example:
If your gross monthly income is $5,000:
- Maximum housing costs: $5,000 * 0.28 = $1,400
- Maximum total debt payments: $5,000 * 0.36 = $1,800
Remember: This is just an estimate. Your actual budget may vary depending on your financial situation and other factors.
Why choose Hall Financial?
- Most Accepted & Respected Pre-Approval: Real estate agents trust our 5-star pre-approval, giving you a competitive edge in this fast-paced market.
- Personalized Guidance: Our dedicated team will work closely with you, understanding your unique needs and goals, to tailor the perfect financial solution.
- Transparent Process: We believe in open communication and will keep you informed every step of the way.
Don’t let uncertainty hold you back. Take the first step towards your dream home by responding to this email or giving us a call at 866-Call-Hall. We’ll help you crunch the numbers and find a home that fits your budget perfectly.
