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Looking for a Home East of Pittsburgh?

By William Hauselberg Subscribe to RSS | December 21st 2011 | Views:
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Couples or families with children looking for a home outside of Pittsburgh might consider the towns of Monoreville and Murrysville. Monoreville is in Allegheny county, while Murrysville is in Westmoreland county. Monroeville is named for the town's first postmaster, Joel Monroe in the late 18th century. While the United States' first commercial natural gas well, the Haymaker Gas Well, was established in Murrysville.

Families, couples and singles alike will find a wide array of choices of housing in these two areas. There are plenty of reasonably priced homes in Murrysville PA as well as affordable homes in Monroeville.

The Home Buying Process

Anyone new to purchasing a home, and even those that have been through the process before, want to get the best deal available. Regardless of the overall housing market, there are some things home buyers ought to be aware of to find a home that fits both a buyer's wish list and budget.

Determine What Your Budget Is

Mortgage lenders not only like to see borrowers with good credit scores, they feel more comfortable with buyers coming into the loan process with a stake in the transaction. With tightening of mortgage loan qualifications, this means more and more borrowers must have a down payment available in order to qualify.

Borrowers should have a debt-to-income ratio of less than 36 percent to qualify for a mortgage. To calculate a borrower's DTI or debt-to-income ratio, simply add up all recurring expenses. This includes, car loans, student loans, personal loans and credit cards. All of these are known as "revolving" or "recurring debt". Leave out gas, groceries and other discretionary expenditures. Divide the total recurring debt by gross monthly income and that will yield a borrower's DTI. For instance, if a borrower grosses $4,000 and has $1,400 in recurring debt, his DTI is 35 percent.

Decide Where You Want to Live

Homes in Monroeville and homes in Murrysville PA come in a wide assortment. There is something for everyone. Once a borrower knows his budget and becomes pre-qualified for a mortgage by a lender, its time to house hunt. Consider holding back about 10 to 15 percent of the mortgage approval funds for remodeling costs. This will keep the monthly payments affordable and allow the home to be personalized after purchase.

Be Willing to Compromise

Home buyers are more than likely to find they won't get everything on their wish list. Being realistic about how much is affordable and a home's features will make the house hunt go faster and less stressful.

William Hauselberg - About Author:
The author has an immense knowledge on homes in Monroeville. Know more about homes in Murrysville PA related info in his website.

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