Buying a South Hudson NH home can be extremely stressful, especially when the home of your dreams costs more than you can afford. Luckily for you there are a few ways to get the most out of your money, and we are here to help you. Here are some important tips on how to get a mortgage,.

We will always stand by your decision as it's yours to make but we will guide you along the way. It's nice to be able to go out to dinner or buy a new pair of shoes and not just live for a house too.

How Much Can I Afford To Borrow for a South Hudson NH Mortgage?

Your credit, income, debt-to-income ratio, the size of your down payment, your employment and residence history are all factors in how much you can borrow for a mortgage. Be cautious when you get  a mortgage because the amount you are able to borrow can exceed the amount you can afford.

What Are My Upfront Costs?

Some costs associated with buying a Hudson NH home start to appear before you even make a payment on your mortgage. These include:

Mortgage Application Fees

When you apply for a mortgage there are always fees. Application fees include service fees, which can be flat fees, or they can be a % of the total purchase price. Application fees include the appraisal, credit report fees, title insurance, flood certification fees, lawyer costs, points, as well as application, processing and underwriting fees. Depending on the company you choose to work with they can show up differently on the closing statement.

Earnest Money
Earnest Money is an initial deposit to be paid into an escrow account once your offer is accepted. This is also known as a “good faith deposit” which may influence the seller's decision on whether to accept your offer. The more you put down, the more serious your offer will appear to the seller.

Down Payment
You can get better mortgage rates by having a larger mortgage down payment. Down payments range from 0% to 20% or more of the total cost of the South Hudson NH home you decide to purchase. Some people put down 20% in order to remove the cost of the Mortgage Insurance Premium. Paying mortgage points up front can also help lower your payments.

Closing Costs
Final closing costs can range from a flat fee to a percentage of the total loan amount, depending on your mortgage and the agreement with the seller. Sometimes closing costs can be rolled into the mortgage loan amount which means you can pay it through your mortgage. The other option is to ask the seller if they are willing to pay some of the closing costs in your offer, if the market will accept it.

Closing costs can include:

• Mortgage Application Fees
• Mortgage Points
• Title Insurance and Title Search
• Escrow Deposits
• Attorney’s Fees
• Inspection and Surveys
• City Recording Fees
  
  

Don’t let this list of closing costs worry you because they are all paid at closing and can be estimated by the lender upfront to give you an idea of what will be needed in the transaction.

Home Ownership Expenses
Owning a South Hudson home requires financial commitment far beyond your monthly mortgage payment. You will also be required to pay your mortgage insurance, home insurance, utilities, repairs, and property taxes. Make sure to take all of these costs into account when you are deciding how much you can afford to borrow to buy your new home. It is crucial that you consider all of these costs before you decide to get a mortgage.

Planning And Saving Tips

If you are still saving for your new home, here are some helpful tips for you:

• Maintaining a reliable income improves your standing with lenders
• Paying your bills on time and limiting your monthly debt helps improve your credit score
• Saving for a larger down payment can lower APR and payments
• Combining your stated income with a partner or spouse can help you afford more
• You want your mortgage payment to be less than a third of your income

Building up your finances and your credit rating before you buy a South Hudson NH home will help you to afford more when you decide to purchase. It can also help you compete with other buyers for the home that you want. This will make owning your new home easier to manage!

For more information on How to Get a Mortgage for a South Hudson NH home for sale give our agents at a call at Harmony Real Estate at (603) 883-8840. We would love to help you find your South Hudson NH dream home!

Do you want to buy a Southern New Hampshire house for sale? Below are 4 essential reasons to consider a purchase now.

Buying a house can be stressful and we want to help relieve some of that stress with our years of expertise. It is one of the most expensive purchases you will make in your life and we know how important it is to you.

If you’re a first time home buyer, relocating, a move-up buyer, or looking to downgrade your current home in Southern New Hampshire, you should take advantage of our team! We can help you find the perfect Southern New Hampshire house for sale.

Southern New Hampshire is a fantastic option for anyone looking for a warm and friendly community. The small towns and neighborhoods make it easy for anyone to adjust and feel right at home.

Now is a great time to buy your house before rates and prices increase!

If you are undecided about whether or not to buy a houyse for sale in Southern New Hampshire, here are a few reasons why you should…

NO SALES TAX!

New Hampshire is a tax free state that anyone would love to live in. New Hampshire is a beautiful state with an even better motto, “Live Free, Or Die.” Any Free spirited person belongs here and it's a tax free state!

Winter, Spring, Summer & Fall!

We are lucky to have all four seasons here. Leaf peepers absolutely love Autumn. What could be better than looking out your window and seeing the beautiful fall foliage? Or taking a trip up to the White Mountain National Forest, and hiking all the beautiful trails to enjoy the candy painted leaves atop a mountain?

And for snowbirds there is even more fun to be enjoyed! From ice fishing, sledding, snowshoeing, snowmobiling, to skiing and snowboarding you can enjoy the snowy season as well! Viewing the snow covered mountains, and the beauty of the snow covered trees and yards are a site anyone would love.

We also have spring and summer beauty to enjoy with lots of lakes and beaches close by.

Easy Commutes

We are located close to the Massachusetts border for commuters. You get the best of both worlds with Massachusetts' higher pay, and New Hampshire’s low taxes and affordable living.

Walk around the beautiful city of Boston and enjoy all the incredible architecture, or take a stop at Faneuil Hall and grab a bite to eat. There are many different varieties of food to choose from! Also, be sure to take a trip to see the Boston Red Sox at historical Fenway Park, opened in April of 1912, making it over a 100 years old! 

Maple Syrup!

We have the BEST Maple Syrup. Be sure to check out Parker’s Maple Barn in Mason, NH, or the closest farm stand located in many of the towns in Southern New Hampshire such as Hollis or Londonderry. Most of the local farm stands have apple picking, pumpkin picking, hayrides, corn mazes and more!

If you are looking to buy a Southern New Hampshire house for sale contact our office today today. 

Give Harmony Real Estate a call at (603) 883-8840 or visit our website at www.Harmony-RE.com. We would love to help you with all your real estate needs!