Property-Seekers - Quality International Real Estate Property Listings, For Rent, For Sale By Owner or Realtor online



SEARCH FOR A PROPERTY TO BUY \| SEARCH FOR A PROPERTY TO RENT \| SELL OR RENT YOUR PROPERTY HOME \| INFORMATION - RESOURCES - FAQ \| ARTICLES \| BUYER'S ALERTS \| SELLER'S LOG IN


Real Estate Glossary Definitions A-G Definitions H-N Definitions O-Z Other Definitions				DEBT-TO-INCOME RATIO To determine the maximum mortgage that they will permit you, lenders use guidelines called debt-to-income ratios. This is the percentage of your pre-tax monthly income that is used to pay your monthly debts. Because there are two calculations, there is a "front" ratio and a "back" ratio and they are generally written in the following format: 33/38. The front ratio is the percentage of your monthly gross income that is used to pay your housing costs, including capital repayments, interest, taxes, insurance, mortgage insurance (when applicable) and homeowners association fees (when applicable). The back ratio is the same thing, only it also includes your monthly consumer debt. Consumer debt can be car payments, credit card debt, instalment loans, and similar related expenses. (Auto or life insurance is not considered a debt). A common guideline for debt-to-income ratios is 33/38. A borrower's housing costs consume thirty-three percent of their monthly income. Add their monthly consumer debt to the housing costs, and it should take no more than thirty-eight percent of their monthly income to meet those obligations. These are just guidelines and they are flexible. If, for example, you make a small down payment, the guidelines are more rigid. If you have marginal credit, the guidelines are more rigid. If you make a larger down payment or have an excellent credit rating, the guidelines are far less rigid. The guidelines also vary according to loan program. FHA guidelines state that a 29/41 qualifying ratio is acceptable. VA guidelines do not have a front ratio at all, but the guideline for the back ratio is 41. Example: If you make $8000 a month, with 33/38 qualifying ratio guidelines, your maximum monthly housing cost should be around $2,640. Including your consumer debt, your monthly housing and credit expenditures should be around $3,280 as a maximum.

Our Platinum Selection

Five of today's top-rated properties...

Detached House, Aylesford, Nova Scotia, Canada		Canada
... Bedrooms: 2 - Location: Mountains		CAD144,900.00 (USD142,086.68)

Detached House, Berwick, Nova Scotia, Canada		Canada
Pride of ownership is evident throughout this 4 bedroom, 2 bath, split entry home in welcoming Berwick. The oil furnace, chimney & oil flue were installed in 2004. The 10 x 28 deck spans almost the entire back of the house with patio doors leading into the dining room. Perfect for summer BBQs, watch... Bedrooms: 4 - Location: Inland		CAD134,500.00 (USD131,888.61)

Single Family Home, Parkers Cove, Nova Scotia, Canada		Canada
Located in the peaceful fishing village of Parkers Cove, this 3 bed 1 bath home is a stone throw away from the coast line and with its ocean view would make an ideal cottage, summer or year around home. A double garage and 16x16 outbuilding combined with large utility room and porch, this property p... Bedrooms: 3 - Location: Near Beach		CAD54,000.00 (USD52,951.56)

Duplex, Morden, Nova Scotia, Canada		Canada
This over/under duplex is a great investment property or home with in-law suite. The Two - 2 bedroom units have an excellent rental history with no lack of interested tenants. Upper unit pays $450 and lower $375. Tenants pay their own utilities. Many upgrades have been completed over the past two ye... Bedrooms: 4 - Location: Coastal		CAD99,000.00 (USD97,077.86)

Manufactured Home, Port George, Nova Scotia, Canada		Canada
Beautiful, almost new, one level living with acreage. This 3 bedroom, 2 bath home on just over 10 acres of land is situation only minutes from the Bay of Fundy. Acreage offers grapevines, high-bush blueberries, apple trees, open fields, forest and tree-lined driveway. Large Master bedroom features h... Bedrooms: 3 - Location: Coastal		CAD132,000.00 (USD129,437.14)


	You can easily link to Property-Seekers by copying and pasting the following HTML into your web site... <a href="http://www.property-seekers.com">http://www.property-seekers.com</a> - the best Real Estate Web Site on the Net

© 2006 - Internet Marketing Limited. Use of this site constitutes acceptance of our
Privacy Statement and Terms & Conditions.

Property-Seekers is an Internet Marketing Limited web site and is based at:

GLOBAL OFFICE
#3, 20 Hampton Villas, Farmhill
Douglas
Isle of Man IM2 2NH
Great Britain

NORTH AMERICAN OFFICE RR#1, Hwy 1 Civic #428
Deep Brook
Nova Scotia B0S 1J0
Canada

e-trust-e Member Seal. Before you buy, click to verify!

DISCLAIMER:
Internet Marketing Limited, for themselves, for the operators of Property-Seekers and for the vendors or lessors of those properties that are listed on Property-Seekers, give notice that the property particulars do not constitute any part of an offer or a contract. All statements contained in the particulars to properties listed at Property-Seekers are made without responsibility on the part of Internet Marketing Limited, Property-Seekers or the vendors or lessors. None of the statements contained in these particulars as to these properties are to be relied on as statements or representations of fact and any intending purchasers or lessees must satisfy themselves by inspection or otherwise as to the correctness of each of the statements contained in these particulars. The vendor or lessors do not make or give and neither Internet Marketing Limited nor any person in their employment, has any authority to make or give any representation of warranty whatever in relation to these properties.

RELATED WEBSITES

DEBT-TO-INCOME RATIO