lending: How much house can you buy?
- 09/22/10 10:08 AM
One of the major problems in the mortgage industry today is, most potential home buyers over estimate how much home they can afford. I will discuss how your bank evaluates your income and how you can use what the banks use to figure out how much you can spend. The two major ratios that banks use to determine how much you can afford are the debt to income ratio and the housing expense to income ratio. The later is calculated by dividing your estimated monthly housing payment by your gross monthly income. Your estimated monthly housing payment includes the payment of … (4 comments)
Conversations about real estate related issues in the greater Sacramento areas. This includes: Yuba City, Roseville, Rocklin, Elk Grove, Rancho Cordova, Granite Bay, Folsom, El Dorado Hills, Natomas, Gold River, Lincoln, Merced, Galt, Stockton, Anatolia, and other surrounding cities.
One of the major problems in the mortgage industry today is, most potential home buyers over estimate how much home they can afford. I will discuss how your bank evaluates your income and how you can use what the banks use to figure out how much you can spend.
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