How Much Home Can I Afford | Baltimore Real Estate

How Much Home Can I Afford? | Baltimore Real Estate

by Helene Kelbaugh of Keller Williams Legacy Metropolitan in Baltimore 

Let's Chat!  Buyers & Sellers: (443) 465-8443



How Much Home Can I Afford?

First, let me applaud you for thinking about this first!  More often than not home buyers, especially first time home buyers, start off with looking at a million homes prior to talking to a REALTOR® to get preapproved by a trusted lender.  Preapproval is when a Preferred Lender pulls your credit score, and collects income, savings and additional information to determine how much home you can afford.  When you have this information up front, it is gives comfort to the home buying process.  You know what you have to spend and what price range you should be shopping in.


For a quick FREE cheat sheet download on How Much Home You Can Afford click here for it!


What Do I Need For Financing?

Financing may seem overwhelming and confusing.  If you are working with a REALTOR® and lender who have a great working relationship both will educate you as the buyer on the process from beginning to end.  This process will change from clear as mud to clear as a bell!  Depending upon the type of financing you will use for the home purchase and state, the basic documents a lender will require are:

  • W2's
  • Pay Stubs (several months per lender)
  • 1099's (if applicable)
  • Tax Returns
  • Bank Account Statements

There may be additional forms needed for financing depending upon the type of financing and contract contingencies, for example a gift letter (for proof of funds from a relative) or VA documentation etc.  Your lender will go over any additional forms that may be required for financing.  These documents will help determine what dollar amount you will be preapproved for home purchase.  These documents should back up the verbal income information that was given to the lender initially.  


FREE Home Affordability Cheat Sheet 

 It is always a great idea to talk with a lender to drill down numbers that are specific to your and financing.


Continue Reading ---> 


What's Next 



Start Your Home Search


Call or email me anytime to discuss how this information can benefit you!


Provided courtesy of Helene Kelbaugh of

Keller Williams Legacy Metropolitan


Hire a positive and proactive REALTOR to help you!


Call or text 443-465-8443 for information on Buyer Representation (NO COST TO HOMEBUYERS)



Buy A Home   *  Free Home Valuation  *   Area Information





Download My App Now!




Follow Me Socially!!



Helene Kelbaugh of

Keller Williams Legacy Metropolitan

443-465-8443 DIRECT | 410-342-4444 OFFICE


More Neighborhoods


The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which eXp Realty participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than eXp Realty are marked with the IDX icon and detailed information about each listing includes the name of the listing broker.
©2021 BRIGHT, All Rights Reserved. Information Deemed Reliable But Not Guaranteed. Some properties which appear for sale on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale.
Data last updated: Dec 1, 2021 7:19:pm.