How Much Mortgage Can I Afford

How much mortgage can I afford? This is probably the best question we get from first time home buyers and those homeowners looking to trade up to more expensive homes.

Why? Because determinig affordability is a great first step in the right direction.

There are usually two things to consider here. First and most important is the the total monthly payment that you will be able to make each month and feel comfortable with. Second, is the amount a mortgage lender will approve you for.

Of course, some can afford more than a lender will approve them for and others may be approved for more than they can afford or are comfortable paying.

There is a lot of general information on this. Like what the basic lending guidelines are covering, the credit score minimums, debt-to-income ratios, down payments and savings/reserve amounts, etc.

But what does it mean to you? If you just go by the basic information you see out there, without consulting and experienced loan officer, you may be headed down the wrong path.

For example, many new home buyers have lower credit scores, limited down payments or alternative sources of income that traditional lenders may not accept for qualification.

It is best not to count yourself out or even assume you will qualify for a specific loan amount without determining exactly how your unique situation will be treated by lenders.

Also, for you to get the best mortgage fit, the combination of what you can afford and what you will qualify for, you need to make sure that you have access to the best and most flexible programs.

For example, you probably would like to know what the monthly payments and down payment amounts would be on different loan amounts in certain purchase price scenarios.

Our team has been providing affordable mortgages to thousands of California home buyers and homeowners since 1991.

We have access to thousands of programs availbale to us from some of the largest wholesale mortgage banks in the nation. Most of these programs have different requirements. We know which ones you will be able to afford and qualify for.

So what's the best answer to the question, how much mortgage can I afford? It should be that it depends on your specific situation, but can be determined quickly with a little help.

With just some basic information, we can help you determine exactly what you will qualify for and afford in just a few minutes.

Would you like to see how much of a mortgage you qualify for?

So what are you waiting for?