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As most said, a lender pre-approval. Remember, this is a maximum, don't feel like you HAVE to spend it all. Start lower to see if you can find what you want. It's more difficult to start high and move down in price/
House payment (including principal, interest, taxes, insurance, HOA) divided by monthly income (before taxes) = percentage AThe maximum amount of home you qualify for can't be more than 31%.The general rule of thumb for PI is $100 per $10K of loan. Although with interest rates being so low now a days, it could be less.You also need to consider the second ratio:House payment + all other minimum monthly payments of revolving and installment loans divided by monthly income (before taxes) = percentage BIf this ratio is above 41% in most payments, then you disqualify. You may have to put more down to offset it or get a lower house price.I hope this helps!
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For Sale: $129,900
For Sale: $155,000
For Sale: $179,900