In today’s market, if you are ready to purchase a home in the immediate future, then it is important to be pre-approved. It shows serious intent about purchasing a property which provides better leverage in negotiating the price of the home.
I work with many area mortgage companies and banks.
- What amount of mortgage do I qualify for?
- The total basic monthly housing cost is normally based on 29% to 41% of your gross monthly income.
- What percentage is most often used?
- The percentage used depends on the lending institution and type of financing.