Skip to main content  
Dos Vientos Homes For Sale, Thousand Oaks, CADos Vientos Homes. Real Estate, East Thousand Oaks, CA Communities in Dos Vientos Ranch Thousand Oaks, CAThe Humphrey Real Estate Team Dos Vientos, CAHome Search Dos Vientos Ranch, Thousand Oaks CABuying A Home Thousand Oaks CA RealtorsSelling Homes In Dos Vientos Ranch, Thousand Oaks CAContact

How does a lender determine the maximum mortgage I can afford?

The three primary areas lenders examine in determining the size of mortgage you can handle include your monthly income, non-housing expenses, and cash available for down payment, moving expenses and closing costs. There are a number of different ways lenders interpret these variables to estimate your mortgage capacity. The most popular method is detailed here. Most lenders feel a family should spend no more than 28% of its gross monthly income on housing costs, including the mortgage, insurance, and real estate taxes. Also, these housing costs plus your long-term debts (car loans, student loans, etc.) shouldn't exceed 36% of your income. If your down payment is 10% or lower, most lenders will tighten these restrictions even further. Some lenders may also include home maintenance costs and utility payments in their calculations.

 
 
Dos Vientos Homes For Sale - Westlake Village, CA

Humphrey Team - Homes Dos Vientos
2555 Townsgate Road Suite 200
Westlake Village, CA 91361
Phone: (805) 499-8000
Email: Sold@HumphreyTeam.com

TERMS OF USE - PRIVACY POLICY - CONTACT POLICY

 


Real Estate Website Design &
Real Estate Marketing Services Provided by:

Copyright© The Humphrey Team, REALTOR®, All Rights Reserved.


Site Powered By
    prostepmarketing.com
    Online web site design