How much can I borrow?
How much you can borrow largely comes down to how much you earn, specifically your debt-to-income ratio (DTI).
Basically, we look at what percentage of your monthly income is required to meet ongoing expenses like rent, utilities, car payments and credit card bills. You know, all the really fun stuff.
Most lenders prefer that your DTI not exceed 36% but some FHA-approved lenders will go all the way up to 50% in some cases.
So take 15 min and apply to see where you stand.
Basically, we look at what percentage of your monthly income is required to meet ongoing expenses like rent, utilities, car payments and credit card bills. You know, all the really fun stuff.
Most lenders prefer that your DTI not exceed 36% but some FHA-approved lenders will go all the way up to 50% in some cases.
So take 15 min and apply to see where you stand.
Updated on: 12/06/2023