Lenders fear that if too much of your income is committed to homeownership, you face a greater risk of not making your mortgage payments on time.
Lenders usually require that you spend no more than a certain percentage of your gross income on your mortgage, taxes and insurance.
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Lenders want to make sure that you can keep up on all your regular monthly payments—such as credit card and loan repayments—in addition to the mortgage. You can still be turned down if your mortgage expenses and other regular debt payments are more than a certain percentage of your total income.
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