Why I Want You to Find Your Number Before You Find the House
About this episode
Kevin Martini explains the importance of determining a comfortable mortgage payment before starting the home search.
Most buyers start with the house. The calm ones start with a number, and it is not the price. Get that one number right first, and the entire search gets quieter. Knowing your mortgage payment range Raleigh NC before you shop is the difference between a calm home search and a stressful one. Kevin Martini of Martini Mortgage Group explains why the payment, not the price tag, should come first. He walks through how a comfortable monthly number, once you subtract Wake County taxes and insurance, sets a real and trustworthy price range. With rates sitting in the mid sixes, a payment that looked fine on a listing can land three to five hundred dollars higher once it becomes the actual PITI. The episode reframes the whole process: approval is a ceiling, your range is what your life can carry. [KEY QUESTIONS THIS EPISODE ANSWERS] How much should my monthly mortgage payment actually be before I start looking at homes? What is the difference between what a lender approves me for and what I can comfortably afford? Why does my real mortgage payment end up higher than the estimate on the listing? [WHAT YOU WILL LEARN] Why setting a comfortable monthly mortgage payment before house hunting…
More episodes of Martini Mortgage Podcast
- The Market Won't Tell You When the Advantage Is Gone
- Choosing a Mortgage Lender
- Family Opportunity Mortgage: The Mortgage Strategy Most Families Never Hear About
Explore listener stats, chart rankings, contacts and more on the Martini Mortgage Podcast podcast page.