The Buetergerds Team
Selling Suncoast Homes!
We're here to serve your needs when you are ready to buy a home
Sarasota County Real Estate & Manatee County Real Estate
What Our Customers Say When They Buy or Sell a Home with The Buetergerds Team!
Alan S. and Valerie M. Just bought their new home!!! Watch their video testimonial.
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.
5509 CHANTECLAIRE #38
SARASOTA, FL 34235
3 beds/2 baths
13103 RAMBLEWOOD TRL
LAKEWOOD RANCH, FL 34211
4 beds/2 baths
5114 MANORWOOD DR #3B
SARASOTA, FL 34235
2 beds/2 baths
|View All New Listings (28)|
Rarely available 2 bedroom, 2 bath villa in Forty Three West of Bradenton. Beautiful courtyard entry with plenty of room for a table and chairs to enjoy your morning coffee. Don't miss the pineapple plants out front growing fresh and sweet. Very nicely updated with fresh paint, new garage door, new ceiling fans, new laminate wood flooring and the Range and dishwasher have been replaced too. Just outside the bonus room is a screened lanai that opens to a private garden area of your own, have your own plants to garden, so peaceful, so relaxing. Close to our beautiful beaches and all the restaurants and shopping of West Bradenton.