Your salary must meet the following two conditions:
Your gross (pre-taxes) monthly salary must be greater than
35% of the
sum of the monthly mortgage and monthly tax payments.
Your gross (pre-taxes) monthly salary must be greater than
45% of the
sum of the monthly mortgage, monthly tax and other monthly debt payments.
DISCLAIMER: The
pre-qualification figures above are based upon conforming guidelines. Other loan
programs are available. Calculations by this tool are believed to be accurate, yet are not
guaranteed. Further review is necessary to obtain an exact qualification.
|