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How Much Can You Borrow?

How much you can borrow will depend on your income, down payment, job stability, existing debts, credit references and payment history. Lenders usually use the following two qualifying guidelines to decide how much of a loan you can manage:

  • Your monthly housing expenses - mortgage payment, property taxes, insurance, etc. These expenses should be no more than 28 percent of your monthly gross income.

  • Your monthly living expenses and any long-term debts - utilities, car and school loan, child support, health and car insurance, etc. These expenses should be no more than 36 percent of your monthly gross income.

 

 

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Call Center Toll Free Number is (888) 593-1125.

 

 

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This copyrighted information is provided courtesy of the Stewart Title Guaranty Company.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For all of your relocation needs contact TRICIA GRAY, REALTOR®

Tricia Gray is licensed Alabama and is associate with

Advangtage Realty Group in Tuscaloosa, Alabama.

 

 

 

 

 

 

 

 

 

 

Last Modified on June 09, 2009

Copyright© 2002-2009 by RealtyPro 

 

 

 

 

 

 

 

 

 

For all of your relocation needs contact TRICIA GRAY, REALTOR®

Tricia Gray is licensed Alabama and is associate with

Advangtage Realty Group in Tuscaloosa, Alabama.

 

 Each Office Independently Owned and Operated.