First Time Homebuyers - Find out How Much Mortgage Can You Afford

First Time Homebuyers - Find out How Much Mortgage Can You Afford
You can save yourself a lot of wheel-spinning if you take a minute to figure out how much mortgage you can afford. Generally, a lender will want your monthly mortgage payment to total no more than 29% of your monthly gross income (that's your monthly income before taxes and other paycheck deductions are taken out.)Jun 9, 2005, 07:00