Qualifying for a Mortgage Loan

Before you start shopping for your dream home, it is a good idea to determine how much you can afford to borrow. We recommend that you spend some time looking at your budget. Make a list of where your money comes from and where your money goes to each month, and develop a personalized income and expense report. Once you have determined how much money you have available for a monthly mortgage payment, you can use our calculator to determine how much you can afford to borrow.

A mortgage company uses ratios to analyze your mortgage payment. The housing payment ratio (or Front Ratio) compares your total mortgage payment to your gross monthly income. The total debt expense (or Back Ratio) compares your total monthly obligations including your total mortgage payment to your monthly income. These ratios are guidelines only. Please contact Lending Team USA for a complete pre-qualification analysis.