Home Buying Guide & Mortgage Calculator
VIP Home Buying Guide & Resources
Getting Started Buying a Home in Indiana: Understand the
Numbers - Mortgage, Down Payment, Points, Closing
Costs, Moving Costs, Affordability Calculator
Once you've decided to buy a home in Central Indiana, the first thing you need to do
is consider how much you can afford to pay for your new home.
We provide links, below, to Calculation Tools to help you determine a financial starting
Getting Started in Indiana: "Understand the Numbers"
Besides a basic mortgage, getting into a home will usually
take some upfront money, the amount of which can vary depending
on your financing decisions. It's a good idea to know what these
other costs might entail, and what out-of-pocket expenses you can
- Down payment
- Closing costs
- And don't forget, Moving Costs!
Determine What You Can Afford for Your New Home in Central
Whenever making a major purchasing decision, it's important to have as much
information as possible before getting too far into the process. It's a waste of
your time to shop for a Cadillac CTS if you can only afford a Honda Civic.
beginning to look for a new home in Central Indiana, you should calculate how much house you can afford.
This will help determine what type of home to buy and where to begin looking.
You can make a preliminary assessment by using these Affordability Calculators:
For a comparison of affordability results, you can also use these Affordability Calculators
from Fannie Mae:
(open in new windows)
Please note that these calculations do not consider the true
cost of a mortgage, which includes additional monthly costs for
escrow and other related fees. For more information. read
Mortgage, Escrow & Additional Costs.
Once you've determined what you can afford, it’s a good idea to
look into pre-qualifying for a loan. Pre-qualification will give you
a better idea of how much you will be able to borrow, giving you a
starting point for your home search. Pre-qualification also tells sellers that you are a serious potential buyer.
Learn As Much As Possible About the Home Buying Experience
These resources provide valuable information to help you with your
home-buying experience. The more you know before you buy a home, the happier you
will be after you move in.
IndianaConsumer.com is the Hoosier state's one-stop
resource for consumer information and education brought to
you by the Indiana Attorney General's Consumer Protection
Association of Greater Indianapolis
- Quality Assurance Builder Standards provides new
homebuyers and remodeling homeowners with a way to measure
the quality of the project against an industry approved set
Office of Consumer Protection
- The Federal Trade Commission (FTC) provides publications
with advice on avoiding scams and rip-offs, as well as tips
on other consumer topics..
Consumer.gov is your resource for consumer information
from the federal government, such as emergency contact
numbers, home energy tips, and many links about buying real
estate and mortgages from HUD and FDIC.
For more information about how VIP Realty can help you buy a home in Central Indiana, call Tammy Bookout at (317) 345 -
8269 or toll-free at 888-VIP-0002 (888-847-0002), or send
Tammy an e-mail, or submit the Request for Information form