Mike Davis,Realtor,selling buying homes Fort Gordon, Hephzibah, Augusta,Evans,

Just minutes from Fort Gordon Ga

You will love this 4 bedroom 2 baths split floor plan home just minutes from Fort Gordon. At $175,000 you will love the hardwood floors in the foyer and the carpet in the Great room. Not to be out done the Master bedroom has trey ceilings leading into a large bath with garden tub, the kitchen has it all including the refrigerator. Enjoy the den or formal dining. Finally lay back in the backyard surrounded by a privacy fence. Beautiful landscaping give this home everything you need. Buying or selling your home you will want to see this one!

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When you make a formal loan application, your lender will give you

:

1. The truth in lending disclosure. This statement helps provide information about the proposed loan. Such as annual percentage rate, total finance charges, amount financed, total payments, schedule of payments, late payment charges, prepayment penalty (if any), and assumption options, which indicate the lender's willingness to allow a future buyer to take over your original loan.
2. A "good faith estimate" of closing costs. This is an estimate of the approximate amount of the money you will need at closing. The forms lenders use to prepare this estimate vary, but the information is basically the same. This estimate gives you a rough idea of the fees the will charge you when you apply for a loan. The standard fees are interest adjustment, title insurance, recording fees, and survey fees. There are also many variable fees, including application fee, points, appraisal credit report fees, and closing and settlement fees.
3. The HUD booklet to help you to understand closing costs and truth in lending disclosures. When buying or selling real estate these steps are always part of the transaction.

You must pay for the rest of your closing costs and down payment upon the signing of the final documents.

Before you start house hunting, it is wise to find out what homes are within your price range. This can be done through the simple process of prequalification. To prequalify you, a lender or real estate agent uses financial information you provide to estimate the maximum mortgage you should be able to obtain. As usual this process does not guarantee that your mortgage application will be accepted, but it does help you to narrow your search to homes you can afford to buy. It also saves you time and gas

when riding around looking at homes to purchase.

Most lenders use certain formulas to determine how much mortgage to offer you. Typically, your monthly house payment should be around 28 to 30 percent of your total monthly gross income (you know how much you make before your monthly taxes). Your total monthly debt, which includes your mortgage, as well as your debts (e.g. car payment, credit cards, personal loans), should not be more than 36 to 41 percent of your gross income. These figures may vary from lender to lender. When deciding how much house you can comfortably afford (that means sleep at night in peace), you need to consider your home's carrying charges as well as your savings, your salary, your debts, and your spending habits. Your lender looks at each mortgage application separately and takes special circumstances into consideration. When you are buying your home always let your real estate agent help you in the prequalification process.

Mike Davis