Real Estate News for Tuesday, January 3rd, 2006

I keep wanting to type 2005, instead of 2006. It happens every year, but it's still a struggle every January! Here are today's top real estate stories.

How Much House Can You Afford? Experts say you will typically spend about a third of your income on financing your home. Before you start to look for your dream house, you should figure out just how much of that dream you can afford. Mortgage lenders look at your ability to repay the mortgage loan by reviewing:
* Your credit history
* Your monthly gross income
* How much cash you can accumulate for a down payment, which is usually 10 percent to 20 percent of the sale price.
For details on checking your credit history, see the Bankrate.com report Credit: The Basics. "You should pay off as much debt as you can before shopping for a house," said Doug Anderson, a member of the National Association of Mortgage Brokers, such as car loans and credit card bills. "And try to save a couple of hundred dollars a month for the down payment to bring down the loan amount." Click here to read more.

~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com