How Much Can I Borrow?

Lenders use a figure called the Back End Ratio to determine how much they will lend you. The Back End Ratio is just your monthly housing expenses (including mortage payments, tax, insurance, and HOA fees) divided by your monthly income. Typically, lenders have limited loan amounts so that the back end ratio is 36% or less, but recently lenders have been allowing people to borrow more. You should be careful not to overextend yourself though. Use the Affordability Calculator for a more reasonable estimate of how big a loan you should get.

Annual Income:
Annual Insurance Premiums:
Annual Property Tax:
HOA Monthly Fees:
Monthly Debt (Credit,School,Car,Alimony):

Loan Rate:		%
Loan Term:
Back End Ratio:		%

Real Estate - Real estate agents, homes for sale, house plans, modular log cabin sales, etc.