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Home Ownership

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Home Ownership

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Ready to Buy A Home?

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Calculate How Much House You Can Afford

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Down Payment And Closing Costs

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Get Pre-Approved For A Mortgage

​​Solutions:

One of the most exciting milestones in your life is buying a home! Buying a home is filled with a lot of emotions and financial discussion. As soon as you start thinking about purchasing a home is when you should start planning.

What type of home do I want? Condo. . . single story ranch-style . . . 2-story? What will I need to provide to the mortgage lender?
How much do I need for a down-payment? First time home buyers can greatly underestimate the amount of money it takes to buy a home. At A&M Futures, we are here to help you plan in advance so you are ready to buy your dream home, whether it’s your first or fifth home. Did you know that when you work with A&M Futures, it makes you more “bankable” to your mortgage lender? Your mortgage lender’s application will actually ask you about that.

One of the most important costs when buying a home is the down payment. A typical amount for the down payment is anywhere between 5-20% of the total cost of the home. Closing costs are required to complete the sale and must come out of your pocket as well. Closing costs vary due to state and local taxes and regulations, but plan on spending another 2-5% of the home’s value. And don’t forget about moving expenses!

The key (no pun intended – maybe it is) to your new home is planning, and A&M Futures is key to making that dream home possible.

References

  1. The COVID-19 pandemic’s financial impact on US consumers: Consumer pulse. TransUnion. (2021, March 16).
  2. Pascarella, D. (2021, June 28) 4 stats. That reveal how badly America is failing at financial literacy. Forbes
  3. Resendiz, J. (2020, May 27). Average credit card debt in America: June 2020. ValuePenguin
  4. Simon, J (2017, September 25). Americans fear exhausting money in retirement more than death. PlanAdvis
  5. O’Shea, A. (2021, March 17). The average 401(k) balance by age. NerdWallet.
  6. LIMRA. (2021). Facts About Life 2021. LIMRA
  7. Amadeo, K. (2021, April 30). Do medical bills really devastate America’s families? Thebalance
  8. Kaiser Family Foundation. “Benchmark Employer Survey Finds Average Family Premiums Now Top $20,000.” Accessed March 20, 2020.
  9. American Public Health Association. “Medical Bankruptcy: Still Common Despite the Affordable Care Act,” Page 432. Accessed April 28, 2020