If you are a first-time Wasilla AK home buyer or maybe thinking about an investment, before you even look at houses for sale, the most important thing you can do is figure out exactly how much you can afford on a mortgage payment per month.
Save yourself wasted time and the disappointment of looking at the Wasilla community that you may later learn that you simply cannot afford. First, you should calculate your debt-to-income ratio. Lenders prefer that you use 36% and under, but you might want to consider using 28% of your gross monthly income for housing expense.
Following are the simple steps to figure out your Wasilla math:
- Figure out all of your debt. Multiply your gross monthly income by .36 to find your total allowable monthly debt.
- Add up all of your fixed monthly expenses.
- Subtract your fixed monthly expenses from your total allowable monthly debt.
This number is the amount that you have for your mortgage payment, your home owner’s insurance and your property taxes.
For more help figuring out your total allowable monthly debt see a home affordability calculator.
And please think of the Kristan Cole Team when you’re looking for Wasilla AK Homes
Contributed by Kristan ColeContact Me | (907) 373-3575 | www.KristanCole.com
Complimentary Wasilla Real Estate Search
2 Trackbacks
[...] vs 2008 for Wasilla/Palmer AK And for Mat Su Valley AK Homes including featured property in Palmer, Wasilla and Palmer AK, please think of the Kristan Cole Team [...]
[...] energy relief package on August 8th, just hours before its midnight deadline. The package gives all Alaskans eligible for a Permanent Fund Dividend in 2008 an extra $1,200 as an energy resource rebate. The [...]