How true are the “how much house you can afford calculators”?
June 23, 2007
SJP asked:
I filled out one of the calculators and it says I cannot afford a mortgage payment more than 57,0000 or 300 dollars a month, which isn’t true as my rent is $860. So how true are the how much house you can afford calculators true.
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I filled out one of the calculators and it says I cannot afford a mortgage payment more than 57,0000 or 300 dollars a month, which isn’t true as my rent is $860. So how true are the how much house you can afford calculators true.
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How do lenders figure out how much house I can afford?
January 19, 2007
Jennifer C asked:
I have seen the calculators on the internet that figure out based on your income and your monthly debt, but are there any other factors that are taken into consideration?
I have seen the calculators on the internet that figure out based on your income and your monthly debt, but are there any other factors that are taken into consideration?
(I have a GOOD credit Score)
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Josh Dunaway has been a certfied Realtor in the suburban Chicagoland area for over 20 years. Aside from starting his own real estate company, he also owns a mortgage company as well.