Erin Olsen 00869310
Buyer Seller Options
800. 838.0204 - Texting questions to this number is ok, or dial Extension 410 for general questions. Should you experience a long wait time - you may leave your message and your call will be returned before the end of the business day
Showing Home Owners Options to,
Do It Yourself - the (DIY) way,
You don't have to take low-ball cash offers any longer
Sell Retail as a ( For Sale By Owner - FSBO )
We have your OPTIONS
Access Password for Renter to Buyer dial ext 33
Access password to Save Your Equity dial ext. 222
Website best viewed on Laptop or Tablet
800.838.0204
FOR HOME BUYERS
Feel free to text or call with your questions to be added to this FAQ PAGE
Why you want to Purchase a home:
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Well, If you havent notice the most recent landlord events, rents are on the rise faster than ever before in history. Hedge Funds buying up homes faster then real buyers can qualify to purchase.
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If you don't hedge your housing costs soon as possible, you will be moving to areas that you can afford more often.
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Appreaciation and tax benefits are always an advantage from a purchase.
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Incomes don't increase faster than home prices rise! Buy as soon as you qualify.
Pre-Qualifying your Combined Incomes Yourself with the Pre-Qualifying Formula
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Gross Combined Monthly Incomes x 45% = $ XYZ ($8,493 X 45% = $3,822) i.e. ​both buyers together add up to a total of $49.00 per hour. ($25.00 per hour + $24.00 per hour = $49.00 per hour total)
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$3,822 allowed payment - $475.00 of Monthly Credit Debt = $3,327 target monthly housing payment
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Take a look at ERINs calculator to get a better understanding what combined incomes and debts may afford you.
Estimated Gross Income needed to qualify for $1,100,000 Purchase (FHA program)
| 30 yr fix % |3.5% $ cash down| Combined Gross Monthly Incomes | Mo. Payment |
| 4.0% | $38,500 | $15,849 a month / $91.44 hrly | $ 7,132 |
| 5.0% | $38,500 | $17,276 a month / $99.67 hrly | $ 7,774 |
| 6.5% | $38,500 | $19,563 a month / $112.86 hrly | $ 8,803 |
| 7.5% | $38,500 | $21,176 a month / $122.17 hrly | $ 9,529 |
| 8.5% | $38,500 | $22,849 a month / $131.82 hrly | $10,282 |
Examples @ 40 hour work week W2 Wage earners, not a self employed buyer.
Home Owner Association Dues not calculated if any are required.
Estimated Gross Income needed to qualify for $750,000 Purchase (FHA program)
| 30 yr fix % |3.5% $ cash down| Combined Gross Monthly Incomes | Mo. Payment |
| 4.0% | $26,250 | $10,685 a month / $61.65 hrly | $ 4,808 |
| 5.0% | $26,250 | $11,658 a month / $67.26 hrly | $ 5,246 |
| 6.5% | $26,250 | $13,218 a month / $76.26 hrly | $ 5,948 |
| 7.5% | $26,250 | $14,318 a month / $82.61 hrly | $ 6,443 |
| 8.5% | $26,250 | $14,883 a month / $85.86 hrly | $ 6,697 |
Examples @ 40 hour work week W2 Wage earners, not a self employed buyer.
Home Owner Association Dues not calculated if any are required.
Estimated Gross Income needed to qualify for $400,000 Purchase (FHA program)
| 30 yr fix % |3.5% $ cash down| Combined Gross Monthly Incomes | Mo. Payment |
| 4.0% | $14,000 | $ 5,916 a month / $34.13 hrly | $ 2,662 |
| 5.0% | $14,000 | $ 6,494 a month / $37.47 hrly | $ 2,895 |
| 6.5% | $14,000 | $ 7,267 a month / $42.00 hrly | $ 3,270 |
| 7.5% | $14,000 | $ 7,854 a month / $45.31 hrly | $ 3,534 |
| 8.5% | $14,000 | $ 8,463 a month / $48.83 hrly | $ 3,808 |
Examples @ 40 hour work week W2 Wage earners, not a self employed buyer .
Home Owner Association Dues not calculated if any are required.
What are my Options Now?
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Where to buy? - Where your Income allows you to purchase.
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When to buy? - The best time is when you can afford to purchase.
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Rates are to high to buy - Buy high then when rates adjust down ward refinance
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Always have a trusted loan officer to keep you informed to your targeted refinance interest % rate and to keep you pre approved so you can move fast to lock that lower refinance rate.