Real estate blog entries tagged with mortgage afford by Kevin Nelson MLO-121548 (Mortgage Advisory Group CL-36130)

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Home : Blogs : Kevin Nelson MLO-121548 : Kevin's Blog : Tag "mortgage afford"

mortgage afford: How Much Of A Mortgage Can I Afford? - 08/10/07 12:16 PM

This seems to be a question that I hear very often. Here are a few tips:
For most homeowners, the monthly housing costs should run no higher than 28% of your gross annual income - this is commonly referred to as the 'front end' debt ratio. This payment would include the principal and interest amount of your mortgage, the monthly real estate taxes, hazard insurance and mortgage insurance, if applicable. All of these payments can be bunched into one payment.The second guideline is the 'back end' ratio, or the mortgage plus all other debt like credit cards, vehicle loans, student loans, etc. … (3 comments)

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Kevin Nelson MLO-121548

Wenatchee, WA

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Mortgage Advisory Group CL-36130

Address: 1250 North Wenatchee Avenue Suite G, Wenatchee, WA, 98801

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