Mortgage, Financing, Credit

If you’re in the market for a new home or investment property, one of the first questions you’ll probably ask is, “What can we afford?” Many buyers become so caught up in how much they can afford that they don’t realize their total buying power — that is, the total amount of purchasing potential they actually have.

Buying Power Defined

Your buying power is comprised of the total amount of money you have available each month for a mortgage payment. This means the money you have each month after fixed bills and expenses. Any money you’ve saved for a down payment, the proceeds from the sale of your current home, if applicable, and the amount of money you’re qualified to borrow all impact your buying power as well. When you take all of this into

May 2017 Keller Williams Realty monthly real estate statistics.
This very short video (1:11 minute) is going to give you the 3 national real estate statistics for this month.
With these 3 numbers, you should be able to "feel" the current market. Just click on the video below.

1. The number of projected homes for sale nationally
2. The national median home price
3. The average 30 year fixed-rate mortgage rate.

The Boca Raton area market is a little different from the national market. To get insider's information from a local real estate specialist, please be sure to reach out and call us today at . We'll let you know how these number may affect you and would be happy to talk about your real estate needs.

April 2017 Keller Williams Realty monthly real estate statistics.
This very short video (1:10 minute) is going to give you the 3 national real estate statistics for this month.
With these 3 numbers, you should be able to "feel" the current market. Just click on the video below.

1. The number of projected homes for sale nationally
2. The national median home price
3. The average 30 year fixed-rate mortgage rate.

The Boca Raton area market is a little different from the national market. To get insider's information from a local real estate specialist, please be sure to reach out and call us today at . We'll let you know how these number may affect you and would be happy to talk about your real estate needs.

March 2017 Keller Williams Realty monthly real estate statistics.
This very short video (1:05 minute) is going to give you the 3 national real estate statistics for this month.
With these 3 numbers, you should be able to "feel" the current market. Just click on the video below.

1. The number of projected homes for sale nationally
2. The national median home price
3. The average 30 year fixed-rate mortgage rate.

The Boca Raton area market is a little different from the national market. To get insider's information from a local real estate specialist, please be sure to reach out and call us today at . We'll let you know how these number may affect you and would be happy to talk about your real estate needs.

February 2017 Keller Williams Realty monthly real estate statistics.
This very short video (1:05 minute) is going to give you the 3 national real estate statistics for this month.
With these 3 numbers, you should be able to "feel" the current market. Just click on the video below.

1. The number of projected homes for sale nationally
2. The national median home price
3. The average 30 year fixed-rate mortgage rate.

The Boca Raton area market is a little different from the national market. To get insider's information from a local real estate specialist, please be sure to reach out and call us today at . We'll let you know how these number may affect you and would be happy to talk about your real estate needs.

January 2017 Keller Williams Realty monthly real estate statistics.
This very short video (1:11 minute) is going to give you the 3 national real estate statistics for this month.
With these 3 numbers, you should be able to "feel" the current market. Just click on the video below.

1. The number of projected homes for sale nationally
2. The national median home price
3. The average 30 year fixed-rate mortgage rate.

The Boca Raton area market is a little different from the national market. To get insider's information from a local real estate specialist, please be sure to reach out and call us today at . We'll let you know how these number may affect you and would be happy to talk about your real estate needs.

December 2016 Keller Williams Realty monthly real estate statistics.
This very short video (1:05 minute) is going to give you the 3 national real estate statistics for this month.
With these 3 numbers, you should be able to "feel" the current market. Just click on the video below.

1. The number of projected homes for sale nationally
2. The national median home price
3. The average 30 year fixed-rate mortgage rate.

The Boca Raton area market is a little different from the national market. To get insider's information from a local real estate specialist, please be sure to reach out and call us today at . We'll let you know how these number may affect you and would be happy to talk about your real estate needs.

November 2016 Keller Williams Realty monthly real estate statistics.
This very short video (1:05 minute) is going to give you the 3 national real estate statistics for this month.
With these 3 numbers, you should be able to "feel" the current market. Just click on the video below.

1. The number of projected homes for sale nationally
2. The national median home price
3. The average 30 year fixed-rate mortgage rate.

The Boca Raton area market is a little different from the national market. To get insider's information from a local real estate specialist, please be sure to reach out and call us today at . We'll let you know how these number may affect you and would be happy to talk about your real estate needs.

October 2016 Keller Williams Realty monthly real estate statistics.
This very short video (1:05 minute) is going to give you the 3 national real estate statistics for this month.
With these 3 numbers, you should be able to "feel" the current market. Just click on the video below.

1. The number of projected homes for sale nationally
2. The national median home price
3. The average 30 year fixed-rate mortgage rate.

The Boca Raton area market is a little different from the national market. To get insider's information from a local real estate specialist, please be sure to reach out and call us today at . We'll let you know how these number may affect you and would be happy to talk about your real estate needs.

What is Home Equity?
Home equity seems to be a very simple calculation — the total amount of mortgages owed subtracted from the current market value of a home. Here is a simple example:

Current Home Market Value $325,000
Existing Mortgage $225,000
Homeowner Equity $100,000

One side of the equation is well defined, and it is found on the monthly mortgage statement, the loan balance. The other side is less obvious — the current market value of the property.

As a homeowner, your down payment purchases your initial equity, and your monthly (or additional) principal payments increase your equity. In strong real estate markets and in-demand locations, equity can increase quite rapidly as the property value increases, but the inverse can also happen —