Hi freeper,What's the deal?Here's the deal...The lenders CAN calculate your qualification using ratios as high as 45%... which will show you an amount up to $258k.FORGET THAT!You want to know what you qualify for? Go backwards!1) How much can you afford to pay in housing costs per month?2) Subtract out $250 for taxes and insurance (plus or minus,)3) figure the real interest rate your qualify for based on credit and choice of program types,4) Calculate what that payment, at that rate, for that loan ammortization will come up to on a loan amount.5) Add back in the amount of down payment we're talking about.Forget the fancy schmancy online calculators... you don't want ANYONE telling you what you can AFFORD. If you can afford to pay more than what other think, FINE... there are loans for you to get more... but don't allow the industry to persuade you to borrow more than you can afford to pay.Cheers,Dave DonhoffLic. Mortgage Broker
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