Nowadaes almost all folks get theer lones from FHA...guvt branch
reesun=nowon save up for the down paement NE-more
Fha will lone yu munee with just 3% down paement=leest $ down NE-weer
But yu still need more munee for the kloesing kosts...perhapxs 2,000 tu 3000$
Then, seem linke evreewon get 30 yeer lone, but oenlee kauz em kant get 40 yeer lone
Subtrakt down pae from kous sell pries ("kost")=$ yu borro
Then plug intu standard lone formula tu get $/month yu gotta pae
But lone comepany will add more tu the paement...taxes & inshuer hous...him insist
Him ESTIMATE kost av em 2 & add xtra $/month tu pae eech in 1 yeer
Then look at yer after-tax income
Most morgage comepanees hav standard rule...morgage paement gotta be < 28% av yer yeer's income
& paements on all debt yu hav gotta be < 32% av yer yeer's income
This assume yu hav reesunabel "kredit raeting"