Alimony and child support can be counted as income providing at least three years payments remain. The total of your current monthly payments and your monthly gross verifiable income. Remember that the monthly cost of taxes and insurance are included in your total mortgage payment for qualification purposes. You should check with your insurance agent and county assessor for the rates in your area. Here is a sample calculating the top ratio.
Many households have obligations that exceed that amount.
Let's assume that your obligations are twice as much. Any lender or mortgage broker can supply you with the factors for other interest rates. To determine the loan amount for which you may qualify in our example above, divide 1000 by the factor shown. The result is the number of thousands of dollars you may be able to borrow. Add to this amount any available funds you were intending to use as your down payment.