Andy Rhine, REALTOR
In general, virtually all lenders have a limit on the "front end" ratio - which is the total monthly housing expense which includes the mortgage principal and interest, 1/12th of your annual property taxes and homeowner's insurance premiums, mortgage insurance (if any) and homeowner's insurance premiums (if any). Typically, this can not exceed somewhere between 28% and 32% of your total monthly gross income.
The "back end" ratio includes all monthly debt obligations - including the monthly housing expense - and cannot exceed anywhere between 36% and 45% of your total monthly income.
If the monthly payments on the other debts are high, it could effectively reduce the total monthly housing payment. If they were low to begin with, and may have no impact.
The best thing to do is contact a mortgage lender or broker in your local market area and have him or her conduct an analysis of your total income and debt situation and to paly "what ifs" to maximize the house you want to buy.
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors