Anyone know how to figure out approximately how much you would be approved for depending upon how much you make? I just need an approximate not the specific amount. That I can find out when I want to apply for one. Is there some sort of calculation that can be done to get an estimate? Thanks.

 

anyone?

 

What kind of mortgage? Commercial or Home?

 

home

 

ever been in the military? the guranteed VA home loan is a nice benefit.

 

nope, never been in the military and not planning on it. I'm 25 already and have a set career

 

1st home buyers is your best bet!!! Lower interest rate plus you dont need such a large down payment.. Another tip is, get a mortgage loan through a bank not a mortgage company because mortgage companies have either a higher interest rate, higher down payment or both. I dont know of the formula to calculate how much you can afford but your best bet is to type up your monthly bills and see how much you are left with from your monthly salary.

 

thanks for the tips. I will check that out :thumbup:

 

http://www.homebuyerfunds.com/calcul...or_loanamt.htm

i think this is what you're lookin fer

 

i thought it was generally 3x your yearly net income