Also, the example you gave here isn't necessarily the way it is. Again, depending on other determining factors, you qualify for a higher percentage than 28%.
I would strongly suggest you meet with a Loan Officer and go over all your credit information and documents. Then you'll know more accurately what exactly you would qualify for, estimated monthy payments and everything else you're thinking of. I'm always available to meet should you have any questions or need a Loan Officer who can help you. Good luck!
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Senior Loan Officer
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
(516) 606-9648 Cell
(631) 659-2011 Office
(516) 918-5383 Fax
Really can't give you a figure because it's not only your income that is included into the formula it also depends on what they call your debt to income ratio, your best bet is to sit down with someone that does mortgage
Robert Defalco Realty