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Basic debt to income calculation.Monthly current mortgage bills (taxes and insurance too), monthly credit card debt, car, personal and other notes that you pay monthly. No utilities necessary. Current gross income including any additional income (bonuses, commissions, stock options, etc.) averaged over a 2 year period. Estimate a new purchase and the amount of the loan you would apply for at the current interest rate for the approximate monthly mortgage payment, estimate monthly property taxes (purchase price x 1.25% / 12) and home owners insurance (loan amount x .35%/12). If the total debt (current + new mortgage) is greater than 40-45%(depending on loan amount and lender restrictions), then you'll need to lower the mortgage payment in order to keep those ratios in line. All this of course is without looking at the tax returns and determining what if any expenses the bank will deduct from your income like 2106 un-reimbursed expeneses or losses from business, real estate, etc.End all be all, I'd speak with a direct lender and have them review your financials to determine the final amount.
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For Sale: $229,900
For Sale: $579,900
For Sale: $458,990