Buying a Home Info .com buying a home info.com  - home buying information for first time and move up home buyers
buying a home

Buying a Home Info.com - The Home Buying Resource on Home Buyers

buying a home
buying a home buying a home buying a home buying a home
Home
Should You Buy
Get Started
Free Credit Report
Get PreQualified
Home Buyer Grants
Find a Realtor
Search for a Home
Making an Offer
Closing
Tools & Links
Mortgage Calculator
Contact
mortgages Buying a Home - how to get qualified for a motgage loan

Buying a home - How does a mortgage lender qualify you for a home loan?

 The mortgage lender considers your debt-to-income ratio, which is a comparison of your gross (pre-tax) income to housing and non-housing expenses. Non-housing expenses include such long-term debts as car or student loan payments, alimony, or child support.

 According to the FHA, monthly mortgage payments should be no more than 29% of gross income, while the mortgage payment, combined with non-housing expenses, 4 should total no more than 41% of income.

 The lender also considers cash available for down payment and closing costs, credit history, etc. when determining your maximum loan amount.

>> Next find out what  a credit score is when buying a home   

 

home buying grant

buying a homeHome Buyer Guides
Get 9 free buying a home guides and tips for buying a home.

buying a homeHome Buying Grants
Search for home buying grants and first time home buyer programs.

buying a homeFree Credit Report
Get your free credit report online, instantly.

buying a homeFind a Realtor
Find a Realtor, buy a home, get cash back.

buying a homeSite Tools
Email this Page Bookmark this Page
Mortgage Calculator

Site Map | Search Site

buying a homeMortgage Resources
FHA Loans | VA Loans
CalPERS | Bad Credit 
Mortgages | Home Loans
Home Equity Loans

buying a home buying a home