Carlos Sturrock - Mortgage Broker

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Carlos Sturrock - Mortgage Broker HomeTown Lending
NMLS - 2012593

10/09/2026

How much house can you actually afford? If you’re thinking about buying a home, these 5 simple steps can help you estimate how much mortgage you may qualify for, how much money you’ll need for a down payment, and how long it could take to become a homeowner.

You don’t need to be a financial expert to start planning.

Here’s a quick example using $8,000 in monthly income:

1. Estimate your housing budget. Start with 40% of your gross monthly income. That’s $3,200.

2. Understand your debt-to-income ratio (DTI). Lenders compare your monthly debt payments, including your proposed mortgage payment, to your gross monthly income.

3. Estimate your buying power. Based on your income, debts, interest rate, taxes, and insurance, you can start estimating what home price may fit your budget.

4. Calculate your cash needed. For a $370,000 home, a 5% down payment is $18,500. Add estimated closing costs of 3% to 5%, then account for any seller concessions or assistance.

5. Build your savings roadmap. If your goal is $33,000 and you save $1,500 per month, you could get there in approximately 22 months.

These are starting estimates, not mortgage approval guidelines. Your actual qualifications will depend on your credit, income, existing debts, loan program, and other factors.

The biggest mistake first-time homebuyers make is waiting until they’re ready to buy before figuring out what it takes to qualify.

You don’t need to be ready today. You just need to know what you’re working toward.

Comment “ROADMAP” and let’s build a plan to get you into your next home.

10/07/2026

Buying a home is exciting, but one simple organization habit can save you serious money and frustration later.

The day you close, create a dedicated email address for your home. Use it to store your closing documents, home warranty, survey, inspection reports, repair receipts, contractor invoices, appliance information, insurance documents, and every upgrade you make.

Years from now, when you refinance, file an insurance claim, handle a warranty issue, challenge a repair concern, or sell the property, everything is in one place.

Homeownership is not just about buying the house. It is about managing the asset well after you own it.

Save this for closing day and send it to someone buying a home.

09/19/2026

Renting vs buying a home comes down to more than which monthly payment is cheaper.

If rent is $2,000 and a mortgage is $2,500, it looks like renting saves you $500 a month.

But that only matters if you actually save or invest the $500.

If that money gets invested, put into savings, or used to buy assets, then renting can absolutely make financial sense.

But if it disappears into eating out, subscriptions, cars, and normal spending, you didn’t really save $500.

You just had a lower housing payment.

Buying a home changes the equation because part of your mortgage payment is reducing the balance on an asset you own, while the home also has the opportunity to appreciate over time.

So yes, renting can be cheaper.

But paying less every month and building more wealth are not always the same thing.

09/10/2026

Are you renting or buying in today’s market?

09/06/2026

Love what I do and the people I get to serve

Address

5050 Quorum Drive Ste 600
Addison, TX
75254

Telephone

+18776510316

Website

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