What is the formula to calculate how much I can afford for a loan.
I also have a rental property, so I need to take this into consideration.
Your questions is very subjective, and will depend on the lenders criteria. Why not just call a couple local lenders and find out what they’ll preapprove you for? that should give you a pretty good idea!
I thought there were percentages of your debt to income that you had to stay under.
Most lenders are not going to want to deal with you unless you let them run your credit and I don’t feel like doing that now.