How Much Home Loan Can I Afford?Written by Gary Gresham
Have you ever asked yourself how much home loan can I afford? If you know how much of a payment you qualify for before shopping for a home, your purchase will go much smoother and it can save you a lot of headaches. How would you like to find perfect place to live then not know if you can qualify for loan? Long before you even start looking for your home, you need to know how much home loan you can afford. Many factors are involved to qualify for a loan. Each lender has different guidelines and there are a multitude of different types of mortgage loans. Jumbo mortgage loans will be harder to qualify for than a conforming mortgage loan. Other factors like down payment, loan amount and what is considered a good credit score will also make a difference. There are some general guidelines lenders use that will help answer your question, how much home loan can I afford? These are only rough estimates, but you can get a good idea if you will qualify for a home loan and how much of a monthly payment you can afford. 1. Your mortgage payment, taxes, home owners insurance and any other fixed housing expense should be between 25% and 28% of your total gross (before taxes) monthly household income. 2. Your monthly housing costs (the total figure above) plus any other long term debt (monthly expenses extending longer than 11 months) such as car or boat loans, credit cards or installment loans should not exceed more than 40% of your gross (before taxes) monthly household income.
| | Team JournalingWritten by Doreene Clement
Team Journaling By Doreene Clement www.the5yearjournal.com info@the5yearjournall.com The very effective tool of keeping a journal can be used in your workplace as well as at home. It is a powerful tool that can enhance our lives and support our personal and work well-being. Whether you journal your personal work experiences and goals, or use team journaling, journaling can easily be applied to your work environment. The idea of team journaling is to incorporate journaling as a means to assess and track past, current, or future projects and goals. To get started, pick a team moderator, person(s) who all journaled information will pass through. They will coordinate and monitor journaling process to keep it on track, and moving in team's designated direction and purpose. As a group decide purpose and goals of team journal. Then date and write those down. Next decide what vehicle you will use to record your journaling in. You can use a blank book, and pass it from person to person or keep it in a designated place. You can journal on Internet via a group list, at http://www.yahoo.com, or on a web log, called a blog, see http://www.blogger.com. You can also create a private message board on your company's website. Any of these systems allow an exchange of ideas, feelings, thoughts, and experiences of goals and directions you have already determined. You will want to set some boundaries that will need to be respected and adhered to during this process. Date these and write them right under your purpose and goals. For example, there should be no personal attacks regarding ideas or personalities. Keep what is a fact separate from what is a feeling. Having feelings is OK, just don't confuse what is a fact and what is a feeling. At all times agree that respectful expression and disagreement is adhered to. You may want to limit amount of content anyone can journal at any one time, say a paragraph, or a page. Set any other project guidelines that team decides to incorporate.
|
