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207-266-7021
Aimi Baldwin
Stephen Sprague
aimibaldwin@eradawson.com
stephensprague@eradawson.com
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  • Home
  • About
    • Seniors Real Estate Specialist
    • ERA Distinctive Properties
  • Maine MLS
    • $0-250,000
    • $250,000-$500,000
    • $500,000-$750,000
    • Your Saved Listings
  • Featured Listings
  • Buyers
    • Steps to Buying A Home
    • 4 Questions to Ask Before Buying a Home
    • How Much Home Can I Afford
  • Sellers
    • Top 10 List of Staging To-Dos
    • Home Worth
  • Contact Us
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A homebuyer should typically be able to afford a home that is 3 to 3.5 times your annual salary (or income).    Another general rule is your total monthly expenses (including the new home) should never be above 45% of your gross (pretax) income.   For a first time home buyer, we typically recommend for this ratio to be 35% or less. 

 

You should always consult with a professional mortgage advisor (not your typical order taker at the bank).  And please remember that not all banks are created equal. Some banks can be great for your day to day banking, but have a reputation as terrible mortgage lenders.  Therefore, please ask either us or your friends and family for mortgage banker recommendations.

 

A mortgage banker will advise you and let you know your qualification, how much home you can afford, what your monthly payments will be and what you should expect throughout the home buying process. A good mortgage banker will even coach you if your finances or credit score are not quite ready on how and what to do to get you ready, giving you a time frame of when you will be able to purchase a home.

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Aimi Baldwin
Stephen Sprague
O: (207) 266-7021
E: aimibaldwin@eradawson.com
E: stephensprague@eradawson.com
EHO
Realtor
SRES
EHO
Realtor
SRES
EHO
Realtor
SRES
EHO
Realtor
SRES

OFFICE

ERA Dawson Bradford
417 Main Street,Bangor, Maine 04401US

Phone: (207) 266-7021

Email: aimibaldwin@eradawson.com

stephensprague@eradawson.com
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