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Florida Dream Team Realty Services LLC
4370 South Tamiami Trail, Suite #150
Sarasota, FL 34231
Phone: (941) 827-0700
Fax: (941) 894-6972
Contact Page
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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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