Mortgage Calculator (no commas or $ signs)
When you are ready to buy, here are some tips and things to do as you get started.
1. What do you want to buy? Size, location, type of property (condo, townhome, land, single family home) are all important parts of your “wish list”. Keeping an open mind is important too as you may be surprised what might work for you when you start looking at properties online and in person.
2. What can you afford? If you don’t know, it’s important to play around with the mortgage calculator but it’s MOST important to speak with a trusted and knowledgeable lender who can help you pre-qualify for a loan.
3. A lender can help you by pulling your credit report for you for a nominal fee OR you are entitled to one FREE credit report per year and you can do it yourself. Credit reports usually consist of 3 reporting companies. For example, Equifax pulls credit from three Bureaus (Equifax, Experian and TransUnion) to give you an average score. A good lender can counsel you on your scores, whether you need some credit “help,” and also what you can afford based on your Debt to Income Ratios. These ratios and credit scores are the primary determinant as to what you can afford to buy. It is NEVER a good idea to pull credit often as it can create red flags and lower your overall score. Experian is a great resource.
4. Our brokers at REWP are a wealth of knowledge when it comes to real estate in Grand County. We know what sells fastest, where the best rental potential is, what is takes to build at 9000ft above sea level, what amenities exist in the different neighborhoods and locations, what properties have strong HOAs and which may not, etc.