Mortgage Refinancing Q & A
http://www.badcreditmortgagerefinancingnow.com/index.php

Debt Consolidation Refinancing
http://www.easymortgagerefinancing.com/debt_consolidation_refinancing.php

Bad Credit Refinancing
http://www.easymortgagerefinancing.com/refinancing_with_bad_credit.php

Home Equity Second Mortgage
http://www.easysecondmortgages.com/home_equity_second_mortgage.php

Mortgage lenders use common formulas when determining how much home mortgage loan a borrower can reasonably afford. These formulas are called qualifying ratios because they estimate the amount of money you should spend on home mortgage payments in relation to your income and other expenses.

The ratios may vary from lender to lender and each application is handled on an individual basis. There are many affordability programs—both government and conventional—with more lenient requirements for low and medium income families. Many of these programs require financial counseling to help potential buyers learn about the responsibilities of home ownership.

Generally speaking, in order to qualify for a conventional loan, housing expenses should not exceed 26% - 28% of gross monthly income. For FHA loans, the ratio is 29% of gross monthly income. Monthly home mortgage loan costs include principal, interest, taxes and insurance (often abbreviated as PITI).

I’ve written several articles about mortgages that will give you more information if you’re thinking about refinancing to make your numbers better:

Mortgage Refinancing Q & A
Debt Consolidation Refinancing
Bad Credit Refinancing
Home Equity Second Mortgage