We are wanting to buy a house.... we figure we can afford around 75000 (give or take 5000 or so....)
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but we also have a car payment thats 300 and an insurance payment thats 150 a month....both the car and insurance are through the same company. GMAC. (we get a discount since we use one company for both of them...) the company also offers mortgadge loans and homowners insurance.... should we try to get a loan with the same company or try and find a diff one? also, i think theres something out there where theyll combine your car and home loan in one but i havent been able to find it....anyone know how? and if so how do i go about doing that?
or what do you sugest?
(by the way we make 2000 a month before taxes....
We are wanting to buy a house.... we figure we can afford around 75000 (give or take 5000 or so....) .....?First of all you need to talk to a Mortgage company first to really figure out how much house you can afford. They will take in account how much you have coming in versus how much you have going out and then present you with a range of what a lender will perceive as a safe loan amount. Ultimately you need to be comfortable with the amount of the payment of the loan you will be paying monthly consisting of Principal, Interest, taxes and home owners insurance. Whom ever you choose to speak to be sure to speak to at least one of their competitors to see if you can get a better deal! Same goes for the home owners insurance, but generally your present insurance company will likely provide a better rate for your home owners insurance too. I wonder if you are confusing the combined insurances with combining a home loan and car insurance. Or if you are simply thinking of combining home owners insurance with your mortgage payment (which is common). GMAC also does mortgages, but like I said before, be sure to compare them with another company.
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