First you have to determine what your total housing debt will be. Then you have to determine what your monthly installment debt is on all other items.
Most banks look for what they call "Maximum Housing Debt" of 28%. That is 28% of your Gross Monthly Income. Add to that an extra 8% of what they call "Affordable Total Debt" and the result is what they base their approval or denial on. The calculation here will tell you whether or not the bank will look favorably upon your home mortgage application.
If your Total Housing Debt and your Your Total Debt listed above are smaller than the guidelines, you will most likely be approved.
List Your Property Now!
[ Properties ]
[ Vacation Rentals ]
[ House Swap ]
[ Investment Opportunities ] [ Tool Box ] [ Real Estate On Line ]
This site created
and maintained by: maxmconsulting
Please send comments to: email@example.com
© maxm consulting 1995-2004