Mortgage lending 101 video: How much can you afford? Why get preapproved?

November 2, 2015

It is normal for first time home buyers to have a lot of questions. We’re hoping this video helps you with some of your questions about mortgage loans A mortgage loan is kind of an amazing thing when you think of it.  Because no one has, say, $200,000 laying around, you can borrow it as thousands of homebuyers do across the country every day.

Talk to a lender

You’ll need to get preapproved to see how much you can afford and you’ll need to demonstrate good credit to qualify for a loan.  When you pay your mortgage each month, that money goes towards paying down your debt, along with interest, insurance, taxes. (Low rates right now!) Remember, when you pay your rent, you are essentially paying off the landlord’s mortgage on the property you rent from him/her.  Time to take charge of your own net worth?


Talk to a real estate agent

When you are ready to start, please contact your favorite First Weber Realtor. We will work closely with your lender when the time comes to make sure all is in place for a smooth closing.

First Weber sells real estate throughout Wisconsin : Metro Milwaukee and Southeastern WI, South Central Wisconsin/Greater Madison, Southwest WI,  Central Wisconsin, Northeast Wisconsin andWisconsin’s great Northwoods. You can start searching for Wisconsin real estate and Wisconsin real estate agents at

Thanks for reading the First Weber Wisconsin real estate & Wisconsin living blog.

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