How much house can I afford?

When ealuating how much you can afford lenders usually look to see that your maximum monthy morgage payment does not exceed 28 perent jof your gross (pro-tax) income and that your maximum debt load, including your mortgage payment does not exceed 30 percent of yoour gross income.

What's the difference between being pre-qualified and pre-approved for a mortgage?

A pre-qualification is an informal determination by a lender or mortgage broker stating how much you
can afford whereas a Pre-approval is a guarantee in writing by a lender to grant you a loan up to a specified amount.

What are the advantages of being pre-approved?

I always recommend buyers get pre-approved as early as possible in the home buying process for a couple of reasons.  A pre-approval gives the buyer more negotiating power, sellers will find the offer more attractive if the buyer is pre-approved for a mortgage.  Also, the length of time to close the transaction can be shorter if the buyer has secured a mortgage approval prior to signing a contract on a purchase.

What is a buyer's representative?

A buyer's representative also known as a buyer's agent is an advocate for the buyer--not the seller--in a real estate transaction.  Buyer's agents owe full fiduciary (legal) duties, including loyalty and confidentiality, to their buyer-clients and work in their client's best interests throughout the entire transaction.
Contact Info
Lana Hutnick
Viam Real Estate Services

Managing Broker
Viam Real Estate Services

2189 Monterey Rd, San Jose, CA 95125

DRE#: 01737137