Find out How Much Mortgage Can You Afford
You can save yourself a lot of wheel-spinning if you take a minute to figure out how much mortgage you can afford. Generally, a lender will want your monthly mortgage payment to total no more than 29% of your monthly gross income (that's your monthly income before taxes and other paycheck deductions are taken out.) You also need to consider current loan interest rates. The lower the interest rate, the more expensive the Key West home you'll be able to afford. Follow our tips and use these simple calculators to see how much you can afford in a mortgage payment.

Create Your "Wishlist"
Make your wish list. Focus on the features you want in a home: 2 bedrooms or 3? 1 bath or 2? Garage or no garage? Knowing what you're looking for will help you focus your search. And it will help your Key West real estate broker, too.

Find a Key West Real Estate Agent or Broker
You'll want to start searching for a Key West real estate broker as soon as you decide to buy a home. Talk to several and find someone you think you'll be comfortable working closely with. Many of your friends and relatives have probably bought and sold their Key West homes through Key West real estate brokers. Ask them who they used and what their experiences were. You can find out which Key West real estate brokers specialize in the kind of Key West home or the area you want by looking in the Yellow Pages or your local newspaper's classified Key West real estate ads. Or drive through Key West neighborhoods and note the names of Key West real estate brokers on "for sale" signs. When you talk to prospective Key West real estate brokers, ask questions about the areas and types of Key West homes in which you're interested. Do they seem knowledgeable? Most important, is their personal style a good fit with your own?

Mortgages and Home buying Programs
Many different kinds of mortgages are available to you. Read about them, and make sure you understand the pros and cons of each. Your Key West real estate broker can help you. HUD offers some special home buying programs. Also, many local governments offer special home buying programs to help low-income homebuyers. Shop around - you may be surprised at all your options! ..