Many sellers accept owner financing without any idea of how much the buyer can actually afford to pay. The last thing a seller wants is to stress over receiving monthly payments or worse, getting the property back through foreclosure. Use these three simple methods to determine how much the buyer can afford before accepting seller financing. The amount a buyer can afford to spend on a house depends on their income, overall debt, cash they can put down, credit rating, and the mortgage terms. … [Read more...]
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How Much House Can the Buyer Afford?
By Tracy Z
September 29, 2008 Leave a Comment Filed Under: Notes 101 Tagged With: affording a home, avoid foreclosure, Cash Rule, Debt Rule, federal mortgage bailout, How much house can I afford?, Income Rule, mortgage note, owner financing, seller financing, Three ways to calculate if buyer can afford home
