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818-627-Lend (5363)

David Lerman

NMLS ID 1546749

818-627-5363 brett@calunionfunding.com

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Blog Image: How Much of My Income Should Go to My Mortgage?

How Much of My Income Should Go to My Mortgage?

Back in the U.S. housing boom in the early 2000s, mortgage money flowed freely, with many borrowers being qualified for more loan than they could actually afford. When the housing bubble burst and the entire economy took a hit, those same home buyers often had a hard time keeping up with their home loan payments and ended up in foreclosure.  Today, in the midst of the COVID-19 pandemic, millions of people have lost jobs or had work hours reduced. While lending regulations have been tightened since the Great Recession, it is still possible for home buyers to be approved for more money t...

December 9th, 2020 | Interest Rates, Preapproval, Mortgage Advice, How Much of My Income Should Go to My Mortgage?