Joseph P Suppa
Licensed Real Estate Salesperson
ABR
How Much Do I Qualify For?
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When buying a home, it is helpful to determine the type of home you'll like and how much you can afford before beginning your search. Most lenders allocate approximately 28% of your GROSS MONTHLY INCOME to housing expense. Housing expense includes principal, interest, taxes and insurance (PITI). To get an idea of how much you can afford to pay each month for a home, multiply your gross monthly income by 28%. When coupled with current outstanding loans, the total for your debt service should not exceed 36% of your gross monthly income. Some lenders may have slightly more liberal requirements or loan interest rates which may increase your purchasing power. Mortgage interest, property taxes, loan fees or "points" are currently tax deductible (up to allowable limits). Points are generally deductible in the year paid. A point equals 1% of the mortgage amount. If you are in the 28% tax bracket, this is equivalent to receiving a 28% discount on your mortgage interest and property taxes. During the first years of the mortgage your tax savings are especially high because most of your monthly payment goes toward loan interest. |
About Joseph P Suppa
Licensed Real Estate Salesperson
ABR
Have an experienced negotiator on your side!
When looking for an experienced Buffalo, Western NY Real Estate Agent - give me a call. A 25 year Real Estate veteran, I have bought, sold and professionally managed all aspects involved in Real Estate, including residential, commercial and investment properties. I now pass that knowledge on to my customers.
In addition to buying and selling homes, I also have a background in construction, which greatly assists sellers and buyers. So when your looking to choose a Realtor® in the greater Buffalo and Surrounding Suburbs to buy or sell, choose one that will give you the "Old-fashioned full customer service you deserve!"
*If your thinking of selling, Call me for a FREE (pre-home) inspection of your home so you can be better prepared.*
A customer-focused Realtor®, Joe owns the prestigious designation of being an Accredited Buyers Representative (ABR).
Joe is also a member of the following:
• Buffalo Niagara Board of REALTORS®
• NYS Association of REALTORS®
• National Association of REALTORS®
• Real Estate Buyer’s Agent Council
It's not about me being #1, It's about you!