Lake Erie Vacationland Blog

Pre-qualification is an informal determination by a lending professional that estimates how much mortgage you can afford. This will help you guide your home search to the correct price range.

Pre-approval is a written guarantee by a lender or mortgage broker to grant you a loan up to a specified amount. It is a good idea to get pre-approved before submitting an offer; sellers will take your offer more seriously than an offer from someone who is only pre-qualified.
Posted by Gary and Peggy Hopp on March 30th, 2016 4:13 PM

Estimate that your monthly payments will be around 25% of your gross monthly income. Most lenders feel satisfied with that number. Keep in mind your credit score and any other monthly obligations will also be factored in. There are lots of mortgage calculators online that can be used to estimate what you can afford using different loan and rate amounts.

Click on the link below:

                                          MORTGAGE CALCULATOR

Posted by Gary and Peggy Hopp on March 15th, 2015 1:57 PM

What are the advantages of buying a home?

Several! First of all, owning a home is a great way for you to build equity, take control of where you live, and invest in your family and your community. One study found that homeowners also report a higher quality of life.

Posted by Gary and Peggy Hopp on March 6th, 2015 10:36 AM

Russell Real Estate Services

2870 E. Harbor Road Suite C
Port Clinton, OH 43452