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Albuquerque Real Estate

Albuquerque Home Buying Resources

Ashley Drake Gephart, Associate Broker, REALTOR®
"Opening the finest doors"

How Much House Can I Afford?

There is more than the purchase price to consider when determining how much house you can afford. The following items are typical expenses in home ownership:

Closing Costs

Being aware of all the closing costs that can be associated with your new home purchase can help avoid unpleasant surprises later.

  • Earnest Money
  • Down Payment
  • Loan Costs
  • Recording Fees
  • Prepaids
  • Title Policy

Mortgage Resources

Albuquerque Mortgage Professionals - Any one of these loan officers will be able to assist you in determining a house price you can be comfortable with. Further, they can provide you with a pre-approval letter so you can make a strong offer when you find the right home.

Mortgage Calculator - Use this calculator to estimate what your mortgage payment would be, including taxes and insurance.

Items needed for a loan application - This is a list of items typically needed when applying for a home mortgage. These items can vary by lender as well as loan program. Be sure to check with your loan officer for the particular documents needed for you.

Home Search Tips

Consider your location to your job and schools.

What is your lifestyle? Do you need to be close to outdoor recreational activities or would you be happier located in a neighborhood with a vibrant nightlife?

Make a list of your wants vs. needs to help you focus on your home search.

Start looking at homes on the Internet. Searching the Albuquerque MLS will help you become familiar with the inventory of homes available in your price range.

Visiting open houses will help you focus on the features and locations that are important to you. This is especially important if you are relocating to Albuquerque and are unfamilar with our area. You can search for open houses in Albuquerque to make finding them easier.

Inspections

There are many different types of inspections that are available when purchasing a new home. It is important to consult with your real estate agent to determine what inspection you should have performed. Here is just an example of some of the inspections available:

  • Full Home Inspection with warranty
  • Pest and Dry Rot Inspection
  • Duct inspection Inspection
  • Pool inspection Inspection
  • Radon Inspection
  • Mold Inspection

For more help on real estate terms, feel free to consult the Real Estate Glossary.







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