Most lenders agree that typically ¼ of your income is the best ratio to go by when it comes to determining what your Loan Limits are. Lenders typically have a range of 25-32% Income to Debt Ratio they use when determining loan approval. Getting Pre-Approved by a lender is the very best way to find out what you can afford and what homes and areas would make a great place to begin your search. Our partners at Caliber Home Loans are excellent at walking you through the qualification process.
How do I determine how much home I can afford?
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