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Krista Barton


Sales Representative


100% Club, ABR, AEA, CNE

Office: (905) 878-7777     Email Me

How Much Do I Qualify For?

How Much Do I Qualify For?When buying a home, it is helpful to determine the type of home you'll like and how much you can afford before beginning your search. Monthly housing costs shouldn't be more than 32% of your gross monthly income. Housing costs include your monthly mortgage payments (principal and interest), property taxes and heating expenses (PITH— Principal, Interest, Taxes and Heating). To get an idea of how much you can afford to pay each month for a home, multiply your gross monthly income by 32%.

When coupled with current outstanding loans, the total for your debt service should not exceed 40% of your gross monthly income. Some lenders may have slightly more liberal requirements or loan interest rates which may increase your purchasing power.

Mortgage interest, property taxes, loan fees or "points" are currently tax deductible (up to allowable limits). Points are generally deductible in the year paid. A point equals 1% of the mortgage amount. If you are in the 32% tax bracket, this is equivalent to receiving a 32% discount on your mortgage interest and property taxes. During the first years of the mortgage your tax savings are especially high because most of your monthly payment goes toward loan interest.

Krista Barton

About Krista Barton

Sales Representative

100% Club, ABR, AEA, CNE

Buyer's Home Search

My powerful Home Search solution allows you to search through all available homes the same way I would: by County, Town, Subdivision, Postal Code, waterfront homes, golf course homes, homes on acreage, homes with pools, and much more. Register and you can save your search, track your favorites and have the newest homes that meet your criteria emailed to you daily.

Selling Your Home?

Want to get top dollar for your home in the shortest possible time? Let me help you with Preparing, Pricing, Marketing, Negotiating and Managing the home sales process. I understand the importance of marketing using web, social networking, email, direct mail and print campaigns to place your home in front of more potential buyers. When you are ready, please fill out our online request form and I will contact you directly.

 

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