Montalbano & Associates
Michael Montalbano
Designated Managing Broker
Michael Montalbano
Designated Managing Broker
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Montalbano & Associates
4843 W Newport Ave
Chicago, IL 60641
Phone: (312) 593-7629
Fax: (312) 873-4437
Contact Page
4843 W Newport Ave
Chicago, IL 60641
Phone: (312) 593-7629
Fax: (312) 873-4437
Contact Page
| Michael P Montalbano Designated Managing Broker / REALTOR® 312-593-7629 View Profile |
Hold mouse over logo for description.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.
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Equal Housing Opportunity |