How Much Home Do You Think You Can Afford?

We did a survey that revealed people don’t think they can afford
very much when it comes to a home. You might be surprised how much
you can really afford.


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You might be surprised how little cash you need to close on a house
in Philadelphia.

We did a very informal survey where we asked people how much cash
they thought they needed to buy a $230,000 home in Philadelphia,
and the responses ranged from $23,000 and to $60,000.

In the video above, you can see a listing we recently quoted a
buyer on; it’s a beautiful, totally renovated home with hardwood
floors, has a great yard in the back, and a finished basement.
What if I told you the monthly payment on this property was
$1,250 a month? Would you be surprised?

Additionally, what if I told you it was possible to get into
this property with less than $6,000 out of pocket? Would you
still be surprised? Also, if I told you the whole $6,000 was able
to be a gift from a relative (which is totally allowable in today’s
mortgage guidelines), would you be surprised?

I can tell you that you’d be hard-pressed to find a property like
this one for rent in Philadelphia for $1,250, let alone be able to
buy it with less than $6,000 out of pocket. All these numbers are
an actual quote that we gave to a client!

“

You’d be hard-pressed to find a rental at this price.

”
Now, remember, each mortgage company has different
restrictions that are tailored to each individual. That’s why you
need to call our office so we can connect you to the best mortgage
professional that can get this kind of deal for you.

If you have questions about your buying power or any questions
about our local real estate market, give me a call or send me an
email. I’d love to help you out.