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NextHome Experts
15000 Madison Ave
Lakewood, OH 44107
Phone: (216) 423-5100

Thank you again for finding us this Great House! Tom and Beatrix Tyna (Bay Village)

In this market, it would be easy to throw up your hands and say it's close to impossible, just sit back and hope for the best, but not you. The marketing materials were great and the effort you put in helped to sell the house in an impressive amount of time. Thank you for your input to get the house looking its best and for helping with all areas of the sale. I can rest easy with planning my wedding knowing I have that checked off my list. When Chris and I head back to Cleveland, I will be the first one to look you up and use your services to find our new home. Yours Truly, Kate Plenzler (Avon Lake)

Your ambitious approach is very refreshing. Linda Wagenknecht (Lakewood)

Tony is the Professional in Realty Professionals. Lee Zapis (Bay Village)

Professional in every detail. Sensitive to our personal situation. Business ethics and moral values are to be admired, Does everything in his power to make what could be a highly stressful time in your life, a pleasurable experience. Donald and Betty Maxam (Huron)

A pleasure working with you. We think of you as a new friend. You are truly a professional. Zita and Ken Boitel (Westlake)

Your consistent communication, attention to detail and advice made the entire process a smooth one and one that I learned a great deal from. James Elios (Avon Lake)

I knew throughout the whole process that everything would turn out well because you were very honest and up front with me. You went above and beyond what any other Realtor would do. Robert W. Rosol (Fairview Park)

We couldn't be happier in our new home - could not have done it without you! Dennis and Michelle Pinozzi (Lakewood)

You were knowledgeable and taught me how to look at electrical, plumbing and structural things I never would have noticed. You also listened to what I wanted and helped me to narrow my search. I was treated with respect, something a single female does not encounter very often in the Real Estate market. Theresa A. Clarke (Lakewood)

Thanks again for all your help. I've told a lot of agents in my office what a super agent you are - a real professional. Judy Nupp - Howard Hanna (Rocky River)

Real Estate Tips

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Mortgage Calculator     
Calculators Provided by: IMAGEPROWEBSITE.COM

Affordability Calculator

Input Information
Loan Information
Down Payment :
Interest Rate : (%)
Length : (Yrs)
Estimated Front Ratio : (%)
Estimated Back Ratio : (%)
Income Information Debt Payment Information
Income 1 : ($) Auto Loans : ($)
Income 2 : ($) Student Loans : ($)
Income 3 : ($) Installment : ($)
Income 4 : ($) Revolving accts : ($)
Income 5 : ($) Other Debt : ($)
Taxes And Insurance Information
Annual Taxes :
Annual Insurance :
Annual PMI :

Financial Analysis (Switch to Plain English)
Monthly Principal & Interests : $1,540.80
Monthly Real Estate Taxes : $250.00
Monthly Insurance : $125.00
Monthly PMI : $142.97
Total Monthly Payments : $2,058.77
Monthly Income : $8,000.00
Monthly Debt Payments : $910.00
Actual Front Ratio : 26 %
Actual Back Ratio : 37 %
Amount : $343,100.00
Down Payment : $38,100.00
Home Value : $381,200.00
Plain English Help (Switch to Financial Analysis)

Before you start looking for a new home, you need to have an idea of how much you can afford to pay for a home. To find this out, you will need to take a closer look at your total monthly household income as well as the debts and regular monthly payments you are already making. In addition, you will need to consider how much money you can put in down payment, the loan interest rate, and the length of the loan. You will also need to have an idea of how much the taxes will be, as well as the insurance and PMI costs.

Estimated front and back ratios helps you to limit your housing and necessary living spending. Front ratio is a percentage of your gross income that you can spend on all housing related expenses, including property taxes and insurance. Back ratio is a percentage of your gross income that you can spend on your housing expenses plus cost of shelter: food, clothes, gas, etc.

Front / back ratios with values of 28-33 / 36-42 considered conservative these days, values bigger than 35 / 45 called aggressive and not recommended for use.

Using all of this information, you can determine how much you might afford to pay for your mortgage. If you are interested in making a $38,100.00 down payment and hope to get a 30 year loan with a 3.500% interest rate, you can afford to purchase a home that costs $381,200.00 if your gross household monthly income is $8,000.00 and your total monthly payments on your other bills is no more than $910.00.

If you purchase a home under these conditions, you can expect to pay $2,058.77 per month toward your mortgage. $1,540.80 of this will be toward the actual loan, while $250.00 will be toward taxes and $125.00 will be toward insurance.

DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or it's applicability to your financial situation. Please consult your own financial advisor.