How do I find out how much house I can afford in Maine

Welcome to Make Maine Your Home Team's video on "How Much House Can I Afford?" In this video, we'll help you understand the factors that determine your home-buying budget.

First, we'll cover understanding your finances, including your monthly income and the importance of a stable income source.

Next, we'll explain the Debt-to-Income Ratio (DTI) and the 28/36 rule for managing your debt and housing costs.

We'll discuss the significance of a down payment and having an emergency fund for unforeseen expenses.

Additional costs like property taxes, HOA fees, and maintenance will be considered.

You'll learn why the pre-approval process is essential and how your credit score impacts it.

We'll also emphasize aligning your housing decisions with long-term financial goals.

Lastly, we suggest using online affordability calculators for quick estimates.

Understanding these factors will help you determine how much house you can afford. Remember, working with a Realtor like Make Maine Your Home Team provides personalized guidance on your home-buying journey.

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About Doug Schauf: I began working as a licensed real estate agent in 2011 and am currently a Realtor with RE/MAX Oceanside in Cape Elizabeth, a gorgeous seaside suburb of Portland, Maine. One of my greatest real estate professional strengths is taking my clients’ ideas, thoughts, and concerns seriously. Buying or selling a house is one of the biggest decisions we make in life, so I must understand exactly what you want from the process. When you become my client, I will take the time to talk to you and get to know you personally so that I can provide the best experience possible. I have over 20 years of experience in the home improvement and remodeling industry. Years of experience in sales and marketing and an online blog and podcast at: www.MakeMaineYourHome.com. As a Southern Maine resident, I know the importance of having a strong commitment to my community and clients. My number one goal is to help you each step of the way. With a strong focus on technology, customer service, and diligence, I can get your home seen by targeted buyers who are ready to buy yours. Since 1994, I have worked in Maine's real estate, construction, and renovation industries. So I am here to answer every question you have and be there through each step of the process. When I'm not helping clients like you I am exploring Maine with my wife and three children, playing hockey, or volunteering in my community!

The Make Maine Your Home Team

RE/MAX Oceanside  

1237 Shore Road, Cape Elizabeth Maine 04107