were traditionally calculated by lending institutions or knowledgeable realtors
in a face-to-face environment. Now, the Internet has enabled borrower's
to do this from the comfort of home or office.
loan amount for an individual by a percentage of their yearly income to
determine housing expense. The usual percentage used by major banks is between
28 to 34 percent. The size of the loan then varies depending on the choice
of either a 15 or 30 year loan, current interest rates and financing terms.
Recently, due to lower interest rates, borrowers qualified for higher loan
amounts allowing them purchase larger homes or refinance an existing loan.
Lower interests rates allowed an increased demand for home-equity
loans and new home purchases.
Click below to view external sites. Note:
Government sites pertain to Gainesville, Fl.