How much you can borrow will depend on your income, down payment, job stability, existing debts, credit references and payment history. Lenders usually use the following two qualifying guidelines to decide how much of a loan you can manage:
Your monthly housing expenses - mortgage payment, property taxes, insurance, etc. These expenses should be no more than 28 percent of your monthly gross income.
Your monthly living expenses and any long-term debts - utilities, car and school loan, child support, health and car insurance, etc. These expenses should be no more than 36 percent of your monthly gross income.
Please type in your KEYWORD below: (Examples) MLS Number, Subdivision Name, Condo Name, Etc.
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Brenda, I wanted to say this on behalf of 5 sisters. Thank you for such a fast... very fast sale of our Fathers propert…
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