Native Phoenician      I know the Area!!

RE/MAX Achievers
Valley of the Sun
Phoenix, AZ 85022
Phone: (602) 568-2116
Fax: (602) 476-0221
Toll Free: (800) 956-4293
Contact Page

How Much Can You Borrow?

How much you can borrow will depend on your income, down payment, job stability, existing debts, credit references and payment history. Lenders usually use the following two qualifying guidelines to decide how much of a loan you can manage:

  • Your monthly housing expenses - mortgage payment, property taxes, insurance, etc. These expenses should be no more than 28 percent of your monthly gross income.
  • Your monthly living expenses and any long-term debts - utilities, car and school loan, child support, health and car insurance, etc. These expenses should be no more than 36 percent of your monthly gross income.
Weekly Mortgage Rates
Freddie Mac National Averages
 30 Yr Fixed  4.57%
 15 Yr Fixed 4.07%
 5 Yr Fixed 3.75%
 1 Yr Fixed 3.75%
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GRI stands for Graduate REALTORS® Institute. The GRI designation acknowledges REALTORS® who have completed a comprehensive education program that provides practical real estate training. This program is above and beyond the education required to earn a real estate license.An arrangement by which real estate brokers place their listings together so that all members of the multiple-listing service have an opportunity to sell properties listed by other members of the service.A real estate agent is a REALTOR® when he or she becomes a member of the NATIONAL ASSOCIATION of REALTORS® The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION of REALTORS® and subscribes to its strict Code of Ethics.Hold mouse over logo for description.