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June 22, 2019

Have you ever wondered how a lender determines the amount of money they will lend you to purchase a house?  Watch the video for a detailed explanation.

 

As you’ll see in the video, the lenders consider 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.
Lenders also consider cash available for down payment and closing costs credit history and the rest of your financial picture when determining your maximum loan amount.

If you have a home to sell in Tucson, visit www.GetMyHomeBuyer.com and Save $1000’s when you list and SELL pay ZERO commission.  List – SAVE $ Sell!

When your ready to start searching for homes visit www.TucsonHouseHuntOnline.com to search homes for sale just like a real estate professional.

If you have a home to sell in Tucson, visit www.GetMyHomeBuyer.com and Save $1000’s when you list and SELL pay ZERO commission.  List – SAVE $ Sell!

If you have questions or are ready to sell call, text or email me at 520-428-1499 John@JohnGSellsHomes.com

About the author 

JohnGiammarco

JohnG has been a licensed Real Estate professional for over 20 years in three separate states. He has a master's degree in business and has to many personal real estate transactions to count. With this much experience it's safe to say JohnG knows a thing or two about how to sell a home. He is dedicated to helping homeowners discover the truth about the real estate industry and the COMMISSION LIE, many agents and brokers perpetrate in order to earn an income at your expense.  He says "if your paying a commission to sell your house your paying way to much!"

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