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Hello,
I hope this is the right group. I want to purchase a home for anywhere from
$300K to $500K and want to do an 80-20. So, the 20% ($60K to $100K) is put
into another loan. The questions is this, since the 2nd loan is another
liability to me, how does it affect my PITI? Is PITI now the sum of the two
loans? Is my front end ratio also calculated on both monthly payments or
just that of the first loan? How does it affect how much home I'll qualify
for??
Thank you!
Jay
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the max home I can afford?
