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  • This topic has 2 replies, 3 voices, and was last updated 13 years ago by an.
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  • January 11, 2013 at 2:18 PM #20445
    Coronita
    Participant

    Dumb question.

    Anyone happen to know the maximum amount someone can borrow for property(ies), given one’s documented income X that has been consistent for the past few years, assuming all new loan(s) for property(ies) will be a 30 year fixed rate product with at least a 20% down payment (no exotic, wierd loans, no ARM products, etc)…

    (Assumption….Future rental income from newly purchased property will NOT be counted toward one’s income…)

    Too lazy to search right now.

    January 11, 2013 at 2:23 PM #757547
    The-Shoveler
    Participant

    I have heard that there is a limit of four loans if your loan is funded by a GSE, if privately funded then there is no limit as long as you can prove income and or equity.

    January 11, 2013 at 3:04 PM #757549
    an
    Participant

    FHA loans prefer if your total DTI is less than 40 percent to 42 percent of your gross income. Conventional loans may allow your DTI to be up to 45 percent.

    Read more: Mortgage Borrowing Limits | eHow.com http://www.ehow.com/about_7293826_mortgage-borrowing-limits.html#ixzz2Hi96DcaP

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