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Mortgages: How much can you afford? – A lender wants to know how much income an applicant. of whether or not to be "house poor" is largely a matter of personal choice – since getting approved for a mortgage doesn’t mean that you can.
How Much Income Is Needed for $2,500 Monthly Mortgage Payment. – That’s why your mortgage lender looks at two ratios when deciding how much house you can afford. One ratio looks at monthly payment, but the second looks at your monthly payment and your other debt from things like credit cards, car loans, student loans and child support.
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Here’s how much you need to save to afford to buy a home – How do you determine exactly how much you need to save to be able to afford to buy a house? First. the down payment, closing costs, moving expenses, repairs and maintenance, the first few months’.
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