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How Much Can I Borrow?

A common question among mortgage seekers is, “How much can I borrow?” You won’t know for sure until you actually apply for a mortgage and are (hopefully) approved, but there are still some guidelines followed by mortgage lenders. Perhaps the most common way mortgage lenders determine this amount is to perform two calculations:

  1. 28% of your (and your spouse’s, if applicable) gross monthly income.

  2. 36% of your gross monthly income, less other monthly obligations (credit card and auto loan payments, for example).


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