We’re definitely still dealing with the stress of house hunting. I thought I’d share some of the tools that have helped us along the way (in addition to our Realtor and loan officer, who have been awesome).
1. Wells Fargo’s “How Much Can I Borrow” calculator
This nifty interactive resource calculates your debt-to-income ratio in order to estimate how much you can borrow for your mortgage.
It was really accurate for us – after I realized that cell phone bills and the like do not count as debt.
2. Wells Fargo’s “How Much Will My Mortgage Payments Be” Calculator
It’s one thing to figure out what the bank will loan you, it’s entirely different to figure out what you can afford. That’s why we used this calculator. It factors interest, property tax, home insurance, and mortgage insurance into your monthly payment. Your loan officer can verify these numbers. They’ve been pretty accurate for us!
These housing search engines allow you to browse through listings according to your criteria. They are helpful to get an idea of what you’re looking for in a house and to see what is available in your intended price range.
There are some limitations with these resources. A lot of the listings are old and some are off the market by the time you see them. Also, neither of these sites are a comprehensive list of available houses. Once you begin working with a Realtor, you will have a much more inclusive list of options.
Looking at houses makes me anxious to be done with apartment living. Apartment therapy (along with my own 5 Ways to Thrive in an Apartment) helps me stay sane in my rented space.