# Of realestate and mortgages and home purchases. **URL:** \ **Category:** In My Humble Opinion\ **Created:** [August 3, 2005, 8:02pm UTC](https://boards.straightdope.com/t/of-realestate-and-mortgages-and-home-purchases/315462 "2005-08-03T20:02:08Z")\ **Posts on this page:** 3\ **Page:** 2
**Author:** ![Ravenman](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/ravenman/32/2929_2.png) [@Ravenman](https://boards.straightdope.com/u/Ravenman)\ **Post date:** [August 4, 2005, 7:25pm UTC](https://boards.straightdope.com/t/of-realestate-and-mortgages-and-home-purchases/315462/21 "2005-08-04T19:25:25Z")
> [@JohnBckWLD](#): > > When you subtract the insurance ($100) & property taxes (+/- $300/month?) from your budget number & factor in closing costs & down payment: At a 6% 30 year rate, I estimate the ‘amount of home’ you can afford woould be in the low 2’s. Er? I’m paying in the low end of the quoted range and bought a house in the low 3’s. That’s a rather substantial difference in figures. I bought my house in DC last fall, and I did a hell of a lot of reading beforehand. The whole process didn’t really sink in until I made appointments with about three realtors and just went in and talked. I’ve lived in DC for around eight or so years, and I was surprised that, after those meetings, I felt like I knew so little about the city and where to live – their collective wisdom really helped me started going in the right direction. Later I bought my house from a realtor who was not one of those original three. If you want to consult with them, talking is good, but do NOT sign a contract with any of them until you’ve decided, “I want THAT realtor.” If you double deal on a real estate agent, as in sign a contract with one but buy with another, you could open yourself up to a big lawsuit. (I’m using the terms realtor and real estate agent interchangably, I can’t recall the difference between the two.) Best of luck! ---
**Author:** ![Misnomer](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/misnomer/32/14897_2.png) [@Misnomer](https://boards.straightdope.com/u/Misnomer)\ **Post date:** [August 4, 2005, 7:26pm UTC](https://boards.straightdope.com/t/of-realestate-and-mortgages-and-home-purchases/315462/22 "2005-08-04T19:26:03Z")
> [@QuickSilver](#): > > Did I mention I can walk to work and the kids live less than a mile away? Oops! I forgot that your current location suits you, for those reasons… :smack: Oh well! 🙂 ---
**Author:** ![Skywatcher](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/skywatcher/32/254_2.png) [@Skywatcher](https://boards.straightdope.com/u/Skywatcher)\ **Post date:** [August 4, 2005, 7:51pm UTC](https://boards.straightdope.com/t/of-realestate-and-mortgages-and-home-purchases/315462/23 "2005-08-04T19:51:46Z")
> [@Ravenman](#): > > I bought my house in DC last fall, and I did a hell of a lot of reading beforehand. The whole process didn’t really sink in until I made appointments with about three realtors and just went in and talked. I’ve lived in DC for around eight or so years, and I was surprised that, after those meetings, I felt like I knew so little about the city and where to live – their collective wisdom really helped me started going in the right direction. > > Later I bought my house from a realtor who was not one of those original three. If you want to consult with them, talking is good, but do NOT sign a contract with any of them until you’ve decided, “I want THAT realtor.” If you double deal on a real estate agent, as in sign a contract with one but buy with another, you could open yourself up to a big lawsuit. Wait, you only talked to the realtors whose listings you were interested in? [Previous page](https://boards.straightdope.com/t/of-realestate-and-mortgages-and-home-purchases/315462.md?page=1)