Financing Pre-Approval

There are many factors that go into determining whether a buyer is qualified to purchase a home/property. A reputable mortgage company/representative can determine what size mortgage—and what price home—you can really afford. Most lenders use a ratio range that allows a percentage of income to be used for monthly payments, including principal, interest, taxes and insurance. Lenders will factor in a variety of variables in determining a feasible monthly mortgage payment, including income and other sources of funding, fixed and variable monthly expenses, long-term debt; and credit history.