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Which Home Can I Best Afford


Chattel lenders follow the “ability to Repay” rules. To get an accurate picture of which home you can best afford, use the form below and list all your incomes and all your debts. Enter your home price, site type, down payment, home insurance and loan terms to determine your DTI (Total Debt to Income) and PTI (Housing Payment to Income) ratios. Most lenders typically look for a maximum of 42% for the DTI and they like to see a maximum of 28% for the PTI ratio. The form and calculations results below are for informational purposes only.  The lender you select will make the determination for the loan conditions, loan terms and loan approval.  See the FAQs page for more information on qualifying for a loan.

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The total monthly housing payment is the sum of the loan payment principal, loan payment interest, monthly tax escrowed, monthly insurance escrowed and the land lease fee. You can apply for a homestead exemption if the new home is your primary residence for the year and you do not claim another homestead on another property.

Following are the links to lenders who have made chattel loans on new manufactured homes in Harston Woods during 2020 and 2021: