How big of a mortgage loan you can borrow depends on different factors. Lenders are mostly concerned with your debt ratio and the loan amount, and how you plan to spend the money. Even though it’s based on your finances, it also depends on what you feel comfortable borrowing, and how much mortgage lenders are willing to give you. The question of how much you can borrow depends on a mutual meeting between both parties. Some lenders are willing to let you borrow a very high amount, and the home owners may not feel comfortable with that amount, and sometimes the home owners may ask for more and the lender may not feel comfortable with letting them borrow that much.
The situation is going to vary depending on your debt ratio and lending guide lines. The mortgage programs do have different lending rates based on various parameters, but for the most part they depend on the debt ratio. All borrowers are different, a program that may work for one person, may not necessarily work for another. Even though the amount given to you may be more or less then what your ideal goal is, it’s mostly dependent on the debt ratio you have and your needs.
