The Buetergerds Team
Selling Suncoast Homes!
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Sarasota County Real Estate & Manatee County Real Estate
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Your lender decides what you can borrow but you decide what you can afford.
Lenders are careful, but they make qualification decisions based on averages and formulas. They won’t understand the nuances of your lifestyle and spending patterns quite as well as you do. So, leave a little room for the unexpected – for all the new opportunities your home will give you to spend money, from furnishings, to landscaping, to repairs.
Historically, banks use a ratio called 28/36 to decide how much borrowers could borrow. An approved housing payment couldn’t be more than 28 percent of the buyer’s gross monthly income, and his or her total debt load, including car payments, student loans, and credit card payments, couldn’t be more than 36 percent. (In Canada lenders apply similar formulas to determine how much a buyer can afford. The Gross Debt Service ratio, or GDS, is not to exceed 32 percent of the buyer’s gross monthly income, and the Total Debt Service ratio, or TDS, is not to exceed 40 percent of the buyer’s total debt load.) As home prices have risen, some lenders have responded by stretching these ratios to as high as 50 percent. No matter how expensive your market though, we urge you to think carefully before stretching your budget quite so much.
Deciding how much you can afford should involve some careful attention to how your financial profile will change in the upcoming years. In the long run, your own peace of mind and security will matter most.
4768 RINGWOOD MDW
SARASOTA, FL 34235
3 beds/2 baths
6465 WATERCREST WAY #204
LAKEWOOD RANCH, FL 34202
3 beds/3 baths
13312 SWIFTWATER WAY
LAKEWOOD RANCH, FL 34211
5 beds/5 baths
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This is the home that everyone dreams of, but rarely finds. The perfect blend of entertainment space and living space, this home effortlessly handles family gatherings, birthday parties, and holiday celebrations for years to come! The massive, fenced yard is ready for yard games for young and old...at the same time with space to spare! When the champion is crowned, relax in waterfall feature of your beautiful pool. Or, move the party inside where you can have the game on under the soaring ceilings of the main living room and the young ones watching a movie in one of your TWO bonus rooms. The stainless steel appliances of the centralized gourmet kitchen prepare the feast for your guests while keeping you included in all the activities. Serve food as a buffet on the granite counters or invite everyone into the lovely dining room that effortlessly handles 10. Nearby, the convenient wet bar offers after dinner drinks. When everyone leaves, retreat into your over sized office to share the incredible day via social media and plan the next gathering. Then slip into your spacious, first floor master to recharge. When you are not having gatherings, enjoy the beautiful neighborhood from your inviting front porch, or escape to the beach for a sunset. After all, you are only 25 minutes from some of the best beaches! No detail is overlooked in this home: walk in closets, hardwood floors throughout, and too many other upgrades to list. This home offers the lifestyle you desire and deserve. Come see this home today!