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The Beth Hines Team
5160 Hwy 42 West
Garner, NC 27529
Phone: 919-868-6316
Contact Page
5160 Hwy 42 West
Garner, NC 27529
Phone: 919-868-6316
Contact Page
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.
Equal Housing Opportunity |