How Much House can I Afford?

This is the most frequent question I get from new home buyers.   Most lenders suggest that your debt should be no more than 36% of your monthly gross income; that would be your paycheck before taxes and other deductions.   Using that number as a starting point, subract your monthly debt, such as car payments, loans and credit cards.  Whatever is left, to make up the 36% is what you will be allowed for a mortgage payment.  So, lets just say, your monthly Gross income is $5,000.   Multiply that number by .36  to get your maximum debt number, which would be $1,800 per month.  I think most of you will find that your debt is  way over that recommended 36% mark.  Call me today (352) 448-4848  to help you figure out a reasonable mortgage payment for your budget.  This is a great time to start looking for a home to buy and I will help you to purchase a home that you can afford.  My team can help you with credit repair and we will work wiith you to help you reach your financial goal of homeownership.

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Juliet Langer
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