When Calculating with the affordable home calculator...?

Answers:2   |   LastUpdateAt:2019-04-07 20:07:20  

Question
adjfbahbhas
Asked at 2012-08-07 06:10:45
When I use the calculator of affordable housing, as this
a http://cgi.money.cnn.com/tools/houseafford/houseafford.html
What I have monthly debt ? These credit cards , auto and other loans ? or do I have in mind such as food, water / electricity / gas / cable / phone .... ?

When using the calculator monthly debt makes a big difference in housing prices . My wife and I would have combined revenues of about $ 100,000. Any idea how much they get approved for ?
Answer1SephirothAnswered at 2012-08-07 06:33:03
The best site I use is www.bankrate.com . They have mortgage calculators and a calculator that tells you how much " house you can afford . " Call a local bank and ask if you can pre-qualify by phone to give you an idea of how much house you think you can afford - taking account of the debts. They usually let you get up to 40% of your income ( including mortgage) debt . However, it is prudent not to exceed 30%. For example , I recently pre-qualified for about $ 25 - 30K more than they 're buying , we were in a house. Do not bite more than you can chew.
Answer2De'Asia JonesAnswered at 2012-08-09 07:41:43
is counted only monthly debts shown on your credit report and proposed housing expenses such as taxes + monthly payment , monthly insurance and monthly PMI
I am a mortgage banker in TN & KY
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