Radiant New Horizon Homes.com

house MY IDEAL HOME

For a search for what could be your Ideal Home, please take a moment to fill out and submit this page. We do not give out your information to anyone without your permission nor do we sell your information. Also, submitting this form in no way obligates you to anything. Once we get your submission, we will review your form, evaluate your specific situation and discuss how we can help you. Searches, showings, credit restoration, credit issue specialist lenders (our "golden needle in a haystack" lending team) and more. We are here for you. No worries !

NOTE: This form is personal residence properties for sale or for rent. For investment properties (for sale), commercial properties (for sale or for rent) or vacant land (for sale or for rent), click here. For "rent-to-own" properties (lease with purchase option), click here (for CT) or here (for MA).

* = required information

(enter numbers only, no commas)

(space) Employment - regular (paycheck or salary)

(space) Business/Self-Employed

(space) SSI or other cash assistance

(space) Section 8 or other housing voucher - Amount : $

(space) Other :

(space) Single Family

(space) Multi-Family/Apartment

(space) Condo

(space) Other :

Do you have any pets (other than service animals) ?

Pre-Qualification

Pre-qualification involves no proof. It is simply a series of questions to see if one could potentially afford to buy or rent a property. These questions are what we ask on the form above.

Buying - If you are looking to buy and would like to learn more about mortgage pre-approval and requirements, click here.

Renting - To see if you pre-qualify for a rental, divide your monthly income before taxes by 3. This amount is the maximum rent you pre-qualify for strongly (also known as "green light" as in a traffic light). It is possible to pre-qualify for more. For that, divide your monthly income before taxes by 2.4. This amount is the maximum rent you might pre-qualify for (depending on landlord's qualification standards). This pre-qualification level is also known as "yellow light". For example, if you make $3,600/month (gross income, before taxes), you pre-qualify strongly ("green light") for a rental of up to $1,200/mo. [$3,600 / 3 = $1,200] or possibly pre-qualify ("yellow light") for a rental of up to $1,500/mo. [$3,600 / 2.4 = $1,500]. To sum income requirements up, just remember this:

green light Green light - Gross monthly income (before taxes) of at least 3 times the rent. For example, if the rent is $1,000/mo., you would need to make at least $3,000/mo. (before taxes). Green light means income should be acceptable to most landlords.
yellow light Yellow light - Gross monthly income (before taxes) of at least 2.4 times the rent. For example, if the rent is $1,000/mo., you would need to make at least $2,400/mo. (before taxes). Yellow light, also known as "high Rent-To-Income ratio", means income is a little low but still may be acceptable to some landlords.
red light Red light - Gross monthly income (before taxes) of less than 2.4 times the rent. For example, if the rent is $1,000/mo. and you make less than $2,400/mo. (before taxes) you would be considered "red light". This means you're generally out of luck without additional income. A co-signer could be the solution.

To see if you could afford what you are seeking, look up Fair Market Rent (FMR) for the area(s) and number of bedrooms you are interested in.

Note: The rental amounts published on the Fair Market Rent website are for efficiency to 4 bedroom properties (generally single family).

  • For a 5-bed, multiply 4-bed FMR by 1.15, for a 6-bed, multiply 4-bed FMR by 1.30, for a 7-bed, multiply 4-bed FMR by 1.45, for an 8-bed, multiply 4-bed FMR by 1.60, etc.

  • For a multi-family (or apartment building), use FMR for total # of beds in entire building, then divide FMR by total # of beds in entire building. Finally, multiply that by # of beds in unit wanted. For example, FMR for 1 unit of a duplex of two 3 bedroom units (6 bedrooms total), would be 4-bed FMR x 1.30. Then divide that by 6 and multiply by 3.)).

Fair Market Rent figures are not what the actual rent would be but simply a "ballpark" estimate of what the rent is likely to be. These are published annually by HUD as a general reference for Section 8 assistance rental limits. Actual rent could be higher or lower than Fair Maket Rent. Also, if you are approved for Section 8, the approved rental amount could differ from these FMR figures due to current local rental market changes (however, these FMR figures are still "in the ballpark").

Properties priced below 80 % of Fair Market Rent are generally hard to find. The more expensive the property, the higher the rent. If you have pets (including service animals), there may be additional pet/service animal fee(s). Additional fees (move in/out charges, etc.) may also apply.

We strongly recommend for you to review the Fair Market Rent website before filling out the form above. This is important because it will help familiarize you with what is realistically available on the market today in the area(s) you are considering.