Calculate Home Buying Power Direct

Buying power is the maximum amount you can spend on a home based on your financial profile. It combines your available for a down payment with the maximum loan a lender will grant you. 🏗️ The 3 Pillars of Buying Power 1. The 28/36 Rule Lenders typically follow these debt-to-income (DTI) ratios:

Your total monthly debt payments (mortgage + car loans + student loans + credit cards) should not exceed 36% of your gross monthly income. 2. Down Payment Amount 3.5%: Minimum for FHA loans. calculate home buying power

Your monthly mortgage payment (principal, interest, taxes, insurance) should not exceed 28% of your gross monthly income. Buying power is the maximum amount you can