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If You Were Looking For: samsvoices.com _______________________________ Sam Coleman Mortgage Update Home Loan Specialists, Inc.
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How Do You Know What Loan Program Will Work Best?
Debt Ratios Your debt ratio is very important in securing a mortgage. The standard underwriting formula of 28% a borrower's monthly income for housing and 38% of income for all debt is a nice way to determine how much you can afford to pay per month on a mortgage. The basic idea works like this: Monthly earnings $5000 28% for housing = $1400 38% total debts = $1900 In this example the borrower has $500 per month for car payments, credit cards and other loans etc. The formula does not generally include payments for food, utilities and other routine expenses.
To learn more give me a call. We can figure out your debt ratios and do the pre-qualification at no cost! Call Sam And Pre Qualify For Free! 1-866-SAM-4-YOU (1-866-726-4968) e-mail to: samcredit@gmail.com Remember... Personal Mortgage Service (PMS) From Sam Is A Good Thing!
"It Is Always Alright To Do The Right Thing!"
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Sam Coleman
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