How big of an FHA Loan Can I afford?

Your monthly costs should not exceed 54.99% of your gross monthly income for an FHA Loan. Total housing costs often lumped together are referred to as PITI.

P = Principal

I = Interest

T = Taxes

I = Insurance

Examples:

Your total monthly costs, or debt to income (DTI) adding PITI and long-term debt like car loans or credit cards, should not exceed 54.99% of your gross monthly income.

Monthly Income x .54 = Maximum Total Monthly Costs
$3,000 x .54 = $1,620 PITI + All other debts

FHA Loan ratios are more lenient than a typical conventional loan. On case by case basis, DTI can exceed 54%.

Click Refinance or Home Purchase to have a Mortgage Banker contact you on your specific loan needs.

Get a Quote

Pre-qualify in a few simple steps

Get Started

Fill out your Secure Application

Apply Now

See what our clients are saying:

Testimonials