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How much can I borrow from mortgage lenders?

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How much can I borrow from mortgage lenders?

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The amount you can borrow from mortgage lenders when applying for a home loan depends on your current financial situation and your history of paying down previous debts. Mortgage lenders often give a loan to applicants with full-time jobs at which they have been employed for at least two years. Lenders often secure the lowest-cost mortgage to suit the circumstances of the applicant.Monthly IncomeMortgage lenders consider your average monthly income as part of the criteria in how much to allow you to borrow. As part of your income, mortgage lenders consider the amount of your savings or investment income before taxes, overtime hours and any additional streams of income besides your main job. For applicants who are self-employed, mortgage lenders consider their net taxable income over the past two years. This is to determine that an applicant earns consistent income and is thus likely to be able to pay for a home loan. At an interest rate of 7 percent and at a 30-year fixed rate, without

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