A special deal JUST for first time home buyers. The Freedom 75 gets you $7,500 tax credit on your 2008 tax returns when you purchase a new home between now and the end of the year.
HOW DO I KNOW WHAT KIND OF HOUSE I CAN BUY?
One of the first steps in reaching this goal is to understand what you will be able to borrow and determining a monthly payment you can afford. The mortgage industry has adopted several guidelines that will help you get the ball rolling.
HOW MUCH CAN I AFFORD TO INVEST EACH MONTH?
A general rule of thumb states that you will be able to invest 28% of your total gross income on your home loan payment. The income-payment chart will help you convert your annual income into a monthly payment. This payment includes principal and interest only. You must factor in unknown variables including taxes, insurances, and home owners fees which will increase your monthly payment and reduce the total loan amount for which you will qualify.
| Annual Income | Monthly Payment |
| $20,000 | $467 |
| $25,000 | $583 |
| $30,000 | $700 |
| $35,000 | $817 |
| $40,000 | $933 |
| $45,000 | $1,050 |
| $50,000 | $1,167 |
| $60,000 | $1,400 |
| $70,000 | $1,633 |
| $80,000 | $1,867 |
| $90,000 | $2,100 |
| $100,000 | $2,333 |
HOW MUCH WILL I BE ABLE TO BORROW?
Now that you have an idea what you will be able to afford each month, our exclusive "33 SECOND APPROVAL" will give you an idea how much you will be able to borrow. Add your anticipated down payment to arrive at a purchase price limit.
It is important to recognize that your specific situation is unique and there are many loan programs to choose from. We are here to help you evaluate your options and select the program that will be most advantageous. Together we will find the best home loan for you.
For information about our continually changing loan products - CLICK HERE
"Nations Trust handled my mortgage like it was their own. Jason, my broker skipped dinner and drove downtown to meet me at 7PM when the need arose... Thanks guys!"
