{"id":63,"date":"2014-01-13T21:47:19","date_gmt":"2014-01-13T21:47:19","guid":{"rendered":"http:\/\/fastforwardstories.com\/?p=63"},"modified":"2014-01-13T21:47:19","modified_gmt":"2014-01-13T21:47:19","slug":"how-do-lenders-decide-the-maximum-loan-amount-that-buyers-can-afford","status":"publish","type":"post","link":"https:\/\/trumantitle.com\/2014\/01\/13\/how-do-lenders-decide-the-maximum-loan-amount-that-buyers-can-afford\/","title":{"rendered":"How Do Lenders Decide The Maximum Loan Amount That Buyers Can Afford?"},"content":{"rendered":"<p><script src=\"https:\/\/fast.wistia.com\/assets\/external\/E-v1.js\" async><\/script><\/p>\n<div class=\"wistia_responsive_padding\" style=\"padding:56.25% 0 0 0;position:relative;\">\n<div class=\"wistia_responsive_wrapper\" style=\"height:100%;left:0;position:absolute;top:0;width:100%;\">\n<div class=\"wistia_embed wistia_async_2yy3cij1vz dnt=1 videoFoam=true\" style=\"height:100%;position:relative;width:100%\">\n<div class=\"wistia_swatch\" style=\"height:100%;left:0;opacity:0;overflow:hidden;position:absolute;top:0;transition:opacity 200ms;width:100%;\"><img src=\"https:\/\/fast.wistia.com\/embed\/medias\/2yy3cij1vz\/swatch\" style=\"filter:blur(5px);height:100%;object-fit:contain;width:100%;\" alt=\"\" aria-hidden=\"true\" onload=\"this.parentNode.style.opacity=1;\" \/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>As you&#8217;ll see in the video, the lenders consider your debt-to-income ratio, which is a comparison of your gross (pre-tax) income to housing and non-housing expenses.<\/p>\n<p>Non-housing expenses include such long-term debts as car or student loan payments, alimony, or child support.<\/p>\n<p>According to the FHA, monthly mortgage payments should be no more than 29% of gross income, while the mortgage payment, combined with non-housing expenses, should total no more than 41% of income.<br clear='none'\/>\nLenders also consider cash available for down payment and closing costs credit history and the rest of your financial picture when determining your maximum loan amount.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As you&#8217;ll see in the video, the lenders consider your debt-to-income ratio, which is a comparison of your gross (pre-tax) income to housing and non-housing expenses. Non-housing expenses include such long-term debts as car or student loan payments, alimony, or child support. According to the FHA, monthly mortgage payments should be no more than 29%&hellip;<\/p>\n","protected":false},"author":51,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":""},"categories":[12],"tags":[17],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.6.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How Do Lenders Decide The Maximum Loan Amount That Buyers Can Afford? - Warrensburg, Higginsville, Lexington, MO | Truman Title, Inc.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trumantitle.com\/2014\/01\/13\/how-do-lenders-decide-the-maximum-loan-amount-that-buyers-can-afford\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Do Lenders Decide The Maximum Loan Amount That Buyers Can Afford? - Warrensburg, Higginsville, Lexington, MO | Truman Title, Inc.\" \/>\n<meta property=\"og:description\" content=\"As you&#8217;ll see in the video, the lenders consider your debt-to-income ratio, which is a comparison of your gross (pre-tax) income to housing and non-housing expenses. Non-housing expenses include such long-term debts as car or student loan payments, alimony, or child support. 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