How much money do you have for a down payment?
How much do you want to spend on a monthly basis?
Your debt to income (DTI) ratio plays a large factor in the home price you can afford if financing. To determine your DTI, divide your monthly debt by your monthly salary.
For example, if your debt is $5K per month, and your salary is $20K per month, divide 5K by 20K = 25% DTI. The lower your DTI, the better.
TIP:
Most lenders are looking for a DTI of 40% or less. Most co-ops are looking for 25% or less.
You should totally turn this into an infographic or video, its good info lots of people don't understand they just let the bank tell them what they should be doing, which is not a good idea
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I think that is a great idea!
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