Home > How To Library > Real Estate > Home Buying > Maximum Loan Amount

Maximum Loan Amount

Print VersionBookmarkEmail this page to a friend.
The lender considers your debt-to-income ratio, which is a comparison of your gross (pre-tax) income to housing and non-housing expenses. Non-housing expenses include such long-term debts as car or student loan payments, alimony, or child support. According to the FHA, monthly mortgage payments should be no more than 29% of gross income, while the mortgage payment, combined with non-housing expenses, should total no more than 41% of income. The lender also considers cash available for down payment and closing costs, credit history, etc. when determining your maximum loan amount.

Need a contractor for your project?

Add To:
Del.icio.us
Digg
Google
Y! MyWeb
Reddit
Technorati


DRŪ Power Equipment - DRŪ FIELD and BRUSH MOWER


Western Red Cedar Lumber Association - Real Cedar Building Materials


DremelŪ - Repair. Remodel. Restore


PexSupply.com - PEX & Radiant Heat Supplies


NewGrass - Synthetic Grass for Artificial Lawns


Bellacor.com - Quality Lighting and More

View all Showrooms


Related Articles Related Tips Related Videos
A Closer Look at Quechee Lakes
Understanding Mortgage Points
Reduce Radon Levels - Hiring a Contractor
Why Adjustable Rate Mortgage
15 vs 30 Year Loan
Choosing a Lender
Overview of Habitat for Humanity
Bob Completes His Search For a Home on Martha's Vineyard
History of Miami Beach







 

About | FAQ | Contact | Sitemap | Privacy Policy | Terms of Use | Help | bobvilacontractors
© BobVila.com 2008