How much house can you afford? Learn how to run your own numbers to determine the answer!
Where do these numbers above come from? Most government-backed mortgages utilize the following ratios for their underwriting: Front-end debt-to-income ratio = housing-related costs (PITI) divided by gross income. PITI stands for principal, interest, taxes, and insurance. Back-end debt-to-income ratio = housing-related costs (PITI) plus all recurring monthly debt, all dividedRead More →