How much house can you afford?

Ready to buy a house? Before you spend a day drooling over homes you may not be able to afford, the first step is to determine your budget, which means it’s time to calculate your debt-to-income ratio.  DTI is used by loan officers to determine how much a person is qualified to borrow. The calculation itself is the percentage of a person’s monthly gross income that goes toward paying debts. Full Article

My favorite mortgage calculator is the BankRate.com Mortgage Calculator

mortgage house

 

About Farhat and Associates Real Estate

Professional - Our early careers were in Accounting, Property Management, and Technology fields. Both Aziz and I found our passion for real estate as we started in the industry as Investors. Since 2004, we have devoted ourselves to this business on a full-time basis and have sold 100s of homes for our clients. Personal - Our passions are our family, our dogs, outdoor activities, reading, photography, golfing, and discovering new foods/restaurants.
This entry was posted in Buyer Advice, Loan News. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s