principal loan amount: How Much House Can You Afford?
- 08/23/14 04:09 AM
How Much House Can You Afford ?
There are a number of factors that can contribute to the affordability of a house and, as a potential homebuyer, it's important that you know what type of mortgage payments are within your budget.
Debt-To-Income Ratio
As a homebuyer, your first consideration will be the amount of your monthly mortgage payments. If you owe a lot of debt, lenders may consider you to be a high credit risk, which makes debt-to-income ratio a leading factor in determining how much of a house you can afford.
Most lenders will … (5 comments)
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