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Keller Williams Realty at the Beach
1521 Savannah Rd
Lewes, DE 19958
Phone: (302)360-0300
Fax: (302)360-0350
Contact Page

Call Tom today for your exclusive home tour or to have your home listed by a professional. Call (302) 632-7407.

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How Much Can You Borrow?

How much you can borrow will depend on your income, down payment, job stability, existing debts, credit references and payment history. Lenders usually use the following two qualifying guidelines to decide how much of a loan you can manage:

  • Your monthly housing expenses - mortgage payment, property taxes, insurance, etc. These expenses should be no more than 28 percent of your monthly gross income.
  • Your monthly living expenses and any long-term debts - utilities, car and school loan, child support, health and car insurance, etc. These expenses should be no more than 36 percent of your monthly gross income.
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A REALTORS Prayer
May I always use my hands as Your gifts to serve my clients in need. May I use the mind that You bestowed on me to always keep my client's best interest at heart. May I use the talents You provided me to be creative in serving other's needs. May I use my eyesight, my windows to this created world, to see every client as an equal. May I use my tongue in the manner of speech as if I were speaking to You. May I use my ears to listen and not just hear my clients. And may I give thanks to You for giving me the opportunity to serve your children as they seek shelter and may I never forget, under all is land to which You have provided.
 
by Tom Schoenbeck
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