Welcome to your Local Mortgage Report. My name is Lauren Hatmaker.
Have you ever wondered how much house you can afford & what the bank will lend you?
Well – this depends on a few things:
Your income, your debt payments, and your credit score.
Typically, your total monthly expenses should be no more than 40-45% of your total monthly income.
For example, if the income of you and everyone on your loan comes to $6000, before taxes, then your total house payment plus car payments plus credit card payments should equal no more than $2700.
Remember to think about your other expenses like utilities, maintenance, & childcare so that you are not overextended.
If you want to find out how much house YOU can afford, call us today – We make it easy!
Join us again – every Wednesday – 6:30, during the news.