- Real Estate 101 Questions and Answers - http://blog.mandiespudich.com -

How Much Can I Afford?

Posted By Mandie Spudich On July 10, 2007 @ 10:37 pm In Real Estate Basics | No Comments

You should always Consult a Financial Profesional for information specific to your situation, but here are some basic guides that can help you get an idea of where you stand. 

Conventional fixed-rate mortgage

  • 80 percent to 90 percent loan-to-value. Payments no more than 28 percent of income.

  • Under 80 percent loan-to-value. Payments no more than 32 percent of income.

ARM mortgages

  • Payments no more than 28 percent of income.

FHA loans

  • Payments no more than 29 percent of income. 

Note: Payments include taxes and insurance as well as mortgage debt.

Your email:  
Subscribe Unsubscribe  

Article printed from Real Estate 101 Questions and Answers: http://blog.mandiespudich.com

URL to article: http://blog.mandiespudich.com/how-much-can-i-afford

Click here to print.