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All agents are NOT alike! Find out why I am a top real estate expert. Call Steve Powell toll-free at 888-882-9132 or Lisa Zeger at 240-420-5500
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Request My Free Relocation Package! Moving your family to another town or state is a major event in your life! I have helped many families and individuals relocate! Find Out More > View All Offers >
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"Great agent who provided superior service" Wow! Steve is a very good agent that will give over 100%. Relocation Buyer Read Quote >
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Compare three mortgages at one time.
Download TripleCalc now. It's free.
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Steve Powell is one of The Web's
Top Selling Real Estate Experts Find Out More > |
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Special Offers: Special offers for Hagerstown and Smithburg
homeowners from Steve Powell, top Realtor |
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Affiliates: Steve Powell's real estate web site affiliates |
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eNewsletter: Steve Powell's Hagerstown and Smithburg newsletter email will send
you the latest real estate information |
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Today's Real Estate News: Daily real estate news for this neighborhood, Maryland, and United
States |
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Monthly Payments & Schedule: Monthly loan payments java
mortgage calculator |
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How Much Can You Afford?: Calculate how much home
you can afford with this financial calculator |
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Determine Tax Savings: Calculate how much your
monthly Hagerstown and Smithburg Maryland mortgage payments save you on your
taxes because of loan interest |
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Should You Rent or Buy?: Is it better to rent a
home in Maryland or buy your own Hagerstown and Smithburg house, ranch, luxury
property, condominium, acreage, or other real estate? |
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Adjustable Rate Mortgages: Adjustable rate
Hagerstown and Smithburg mortgages information and interest rate java
calculator |
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What Is Your APR?: Determine the Annual Percentage Rate (APR) for your mortgage. |
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Fixed or Adjustable Rate Mortgage?: Use this calculator to compare a fixed rate mortgage to two types of ARMs, a Fully Amortizing ARM and an Interest Only ARM. |
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Are Balloon Mortgages For You?: Balloon mortgage calculator. A balloon mortgage can be an excellent option for many home buyers. |
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15 vs. 30 Yr Mortgages: With a 15 year mortgage you will pay significantly less interest, but only if you can afford the higher monthly payment. Use this calculator to compare these two mortgage terms. |
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How Much Should Your Income Be?: What income is required to qualify for a mortgage? Use this calculator to find out. |
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What's Your Maximum Mortgage?:This calculator will help you determine your maximum monthly housing payment and the resulting mortgage amount. |
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Will Buying Points Save You Money?:This calculator helps you determine if you should pay for points, or use the money to increase your down payment. |
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TripleCalc: FREE Software Download: TripleCalc lets you compare three loans at
one time for your property or other Maryland real estate |
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Top National Real Estate Web Sites: Real Estate Web Sites
that include some unique sources of realty information, listings, and
more |
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Ask Anything: Ask Steve
Powell anything real estate |
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NUMBER1EXPERTS: List of all the NUMBER1EXPERT real estate agents and realty professionals and brokers in the USA and Canada with links to their personal web sites with homes for sale |
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Real Estate Tips: Steve Powell's realty library of real
estate tips and advice on everything from preparing your home for sale to
negotiating with home buyers to escrow, closing costs, property inspections,
and mortgage brokers |
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Real Estate Trivia: Steve Powell's collection of real estate trivia questions and answers
that include real estate topics such as the most expensive home, largest
swimming pool, and more |
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Real Estate Dictionary: Complete real estate
dictionary and glossary of realty words you'll use when you list and sell your
Hagerstown and Smithburg property in Maryland, including legal terms
definitions, and more |
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First Time Buyers >Affording A Home
Are you getting ready to buy your first home? It is important to know how much you can afford before you begin looking at properties. Talking with a lender and getting pre-approved for a loan puts you in a stronger negotiating position with sellers.
As a rule, your monthly housing costs should not exceed 28% of your monthly pre-tax income. These costs include the mortgage payment, real estate taxes, and insurance. If you have long-term debts, such as student loans or car payments, your monthly payments, including your housing costs, should be less than 36% of your pre-tax monthly income. Some loans, such as VA and FHA loans, are more flexible with these basic guidelines.
Depending on which type of mortgage you select, you can consider houses in various price ranges. An adjustable-rate mortgage will usually enable you to qualify for a higher loan amount. Your real estate agent can help you make the basic calculations. Remember that buying at the top end of your price range gives you more time to outgrow your home, and can save you money over the long term.
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| Q |
Which law allows a person to give another individual up to $10,000 a year without any tax consequences?
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| A |
The Federal Gift Tax Law allows both parents to give a child (or anyone) $10,000 each in one year. |
See More Real Estate Trivia > |
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