Please, if I hear this again, I will start screaming.
There are still banks and mortgage brokers out their that go by the numbers and the numbers only.
The monthly PITI payment which is Principal, Interest, Taxes and Insurance combined should not exceed 28% of the monthly gross income. That is what you bank tells you or your mortgage broker says, that is the rule!
The monthly gross income is $5000 that means PITI should not be more than $1400. Please do not fall for this. They look at you as numbers, not as real people. Use some common sense. If your rent is $900 per month now, and at the end of the month you do not have any money left over, how can you expect to make monthly payment of $1400?
That's how simple it is. Look at your budget; are you willing to cut it by $500 to own a home instead of renting it? Can you even cut it by $500?
- If you think about buying or selling a house or condo in the Treasure Island Florida or the St. Petersburg Tampabay area, please give me a call.
- Ask me about waterfront homes or condos in St. Pete beach, Treasure Island, Madeira beach, Seminole and St. Petersburg Tampabay neighborhoods.
- Find out what we can do to sell your home or condo and what the value of your property is.
- Check out great real estate deals or visit condo associations like Seminole Isle.
- We also work with Short Sales, bank owned and foreclosures .
- Find a property or go to my website for more real estate information or simply contact us. 727 410 7777
Anne Hensel | Real Estate Broker in Teasure Island St Petersburg
Call today 727 410 7777
