Buyer Purchasing Power - West Hills CA - Woodland Hills- San Fernando Valley Real Estate

Chart last updated 11/2/11

	October 2011	September 2011	October 2010
One Year Rate Differential	.16%	.24%	.72%

Data courtesy of Freddie Mac

A homebuyer’s maximum financial ability to purchase property depends entirely upon his down payment and the amount he qualifies to borrow from a lender. The amount a homebuyer can borrow is initially based on two factors:

• the buyer’s income, which generally changes annually at the rate of inflation; and
• current mortgage rates, which change constantly.

Lenders know that by one standard, homebuyers are less likely to default if they allocate no more than 31% of their monthly gross income to monthly mortgage payments. Accordingly, mortgage lenders now refuse to lend more money than the buyer can repay at that 31% gross income ratio amortized over 30 years based on a fixed rate of interest.

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Copyright © 2011 by first tuesday Realty Publications, Inc. Readers are encouraged to reprint or distribute this information with credit given to the first tuesday Journal Online — P.O. Box 20069, Riverside, CA 92516.

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Esperanza Butler
Realtor, GRI, e-PRO, SFR
Rodeo Realty
21031 Ventura Blvd.#100
Woodland Hills, Ca. 91364
Cell: (818)-926-5425
Office: (818)-999-2030
Esperanza@EsperanzaButler.com
www.Esperanza4homes.com
www.Activerain.com/Esperanza
http://goo.gl/tQnbs

Home Buyer Beginnings

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