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 Kiersten Marcos
CSP, SFR
ASK ME
KIERSTEN's BLOG
FOLLOW ME ON TWITTER
FRIEND ME ON FACEBOOK
Kiersten Hartmann Marcos
REALTOR, CSP![SUBMIT: CSP_logo[1].jpg](http://www.kierstenmarcos.com/Docs/REA735Docs/Submit/CSP_logo[1].jpg "SUBMIT: CSP_logo[1].jpg")
Direct: (702) 303-2094
Toll Free: (800) 531-6756
Office: (702) 873-4500
FAX: (702) 873-0199
Creating a new standard in the real estate industry has always been Kiersten’s approach to client care, and her goal is to forge client relationships for life. Any agent can see you through a transaction, but it’s Kiersten’s goal to help fulfill your short- and long-term real estate goals. Whether you’re looking for the best investment opportunities, relocating, looking for a second home, upsizing, downsizing, or in need of an expert to negotiate the Short Sale of your property, Kiersten has a wealth of knowledge and resources to make it happen.
Kiersten couples her experience with an intensive knowledge of the Las Vegas real estate market, and a global business acumen. With many years working with various Fortune 500 companies and Wall Street firms as a trusted advisor, she brings an astute understanding of business practices and a refined skill in negotiating to your buying or selling transactions. This translates into a well-organized, masterfully negotiated transaction where your goals and interests are paramount.
Kiersten’s professionalism and commitment to exceptional service ensures that every aspect of your transaction is treated with the highest degree of knowledge, skill and discretion. Additionally, her associations with a vast cross-section of the best experts in the industry help ensure a smooth transaction.
Kiersten takes an intentional approach to marketing your property with a plan that includes a customized combination of internet marketing, vitual tours, blogging, print media, social networking, and a highly developed network of client investors.
“I welcome the opportunity to earn your trust and exceed your expectations.”
- Kiersten Marcos
