Finding the property of your dreams is our specialty. The professionals at Fredericksburg Realty are anxious to use their expertise and knowledge of the market to quickly find a property that meets your needs. STEP ONE - Deciding what you can afford. Deciding what you can afford is an important first step in beginning the process of buying real estate. The agents at Fredericksburg Realty can help you through this process by identifying your goals and defining what costs you will incur to meet those goals.
All loans require a down payment.
A conventional loan typically requires 10-20 percent of the purchase price. On the other hand, a government backed loan may require as little as five percent. These programs are particularly useful to first-time buyers. However it is important to remember that the higher your down-payment, the lower the risk you pose for the lender qualifying you for better terms. Affordability is also determined by how much you can pay per month.