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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 |
What is the world's most capacious building?
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| A |
The Boeing Company's main aircraft assembly plant in Everett, Washington, has been expanded to a capacity of 13.4 million cubic meters, or 473 million cubic feet. |
See More Real Estate Trivia > |
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Mina Sultani Coldwell Banker 7272 Wisconsin Ave Ste:100 Bethesda, MD 20814 Office: 301-718-0010 Fax: 301-634-4188 Cell: 571-331-5909 24 hr Hot line: 1-800-731-7113 mina@minasultani.com minaultani@numberiexpert.com msultani@cbmove.com
Mina Sultani has earned a Ph.D. and a handful of master�s degrees. When it�s time to buy or sell�especially in Logan Circle, Central, Foggy Bottom or Dupont Circle�there�s no smarter choice than Mina Sultani. Simultaneously, she�s warm and approachable, with an absolutely effervescent sense of humor and quick, contagious laughter. Overall, Mina displays the kind of sophistication and energy that are perfectly in tune with her home base; Washington, D.C. There�s another reason she fits into this international setting so comfortably and credibly. Mina has lived in several countries and traveled to more than 50. �There�s nothing more exciting than meeting new people, experiencing new cultures and seeing new landscapes.� It�s no surprise that Mina felt drawn to Washington, D.C.�s cosmopolitan character. As a place to live and work, the capital suits her perfectly. 

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