what is the rule of thumb when banks give home loans?

newmixtapehits asked:


do they go by a percentage of your annual salary, like if I made 30,000 a year what is the max loan they would give me?

Katherine

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Tags: Banks, Max Loan, Rule Of Thumb

This entry was posted on Thursday, August 28th, 2008 at 8:21 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

2 Responses to “what is the rule of thumb when banks give home loans?”

1. helpidentifyme Says:
   August 31st, 2008 at 9:03 am

   You can generally buy a house 3 times what you make a year, so up to 90,000 if you make 30,000. But then you have to factor in all of your debts, so if you are pretty much debt free with good credit, expect around 90,000. They usually want your monthly debts to be less than 40% of your monthly income.

2. valentin o Says:
   September 1st, 2008 at 8:59 am

   For debt to play as but dont know where you are more strict banks want even more strict banks want even more then there is your dti which stands for debt to play as but dont know where you.