Next to finding it, the most important aspect of buying your dream home is paying for it! In fact, it should be the first step in the entire process. You need to know exactly how much property you can comfortably afford to purchase before you expend the time to look.

Whether you work with a direct lender or other mortgage professional, it is VERY IMPORTANT that you understand exactly what your monthly payments will be for each loan program. It is so basic, but SO important!

Remember our Buyer's Mantra: Buy what you like, BUT above all, buy what you can comfortably afford!

If you want to play around and get a basic idea of mortgage loan amounts and related monthly payments before speaking with a professional, there are a couple websites we recommend:

Mortgage Calculators

www.mtgprofessor.com - A complete mortgage financing resource with every imaginable mortgage calculator and wizard, but requires extensive data input.

www.bankrate.com - For those of you that want something simpler.

Home-Buyer Financial Assistance

www.calhfa.ca.gov - California Housing Finance Agency

www.naca.com - Neighborhood Assistance Program of America

http://www.fhadpa.com - Grant America Program

Direct Lenders

Two of the biggest in the area…..

www.countrywide.com

www.wamu.com

First-Time Home Buyer Advice (Other than Mark, of course!)

How to Save for Your First Home As Buying One Gets Tougher

Top Tips for First-Time Home Buyers