How Much Can You Borrow?

How much you can borrow will depend on your income, down payment, job stability, existing debts, credit references and payment history. Lenders usually use the following two qualifying guidelines to decide how much of a loan you can manage:

• Your monthly housing expenses - mortgage payment, property taxes, insurance, etc. These expenses should be no more than 28 percent of your monthly gross income.
  
• Your monthly living expenses and any long-term debts - utilities, car and school loan, child support, health and car insurance, etc. These expenses should be no more than 36 percent of your monthly gross income.

Short Sale vs. Foreclosue - Do you know the difference?             Hardworking people everywhere are having to make tough decision that affect their financial futuer - not just today, but for years to come. If you would like me, to help you to weight all your options, Call me 208-818-2369 I have closed over 10 short sales