How much do banks usually lend for mortgages?

Let's say I make 50K and want to buy a house. I'll put 50% down in cash, but how much do banks generally lend people, and is there a formula for calculating that amount?How much do banks usually lend for mortgages?
Banks will lend you what ever you want (depending on the bank and intrest rates you are willing to accept -- even up to 120% of the property value). There are loans which don't require income verification that have a higher intrest rate if you want more money that is offered. The catch would be if you are buying as an investment property (especially if it has more than 4 units...even more than 2 units is significantly more difficult/costly).





For what you really should spend at most, figure out what your budget really is and how much money would do better in more productive investments (i.e. paying off debt, 401k contributions, or the stock market). Also figure out what housing would meet your needs (both minamally and confortably).





The conservative equation on the maximum you 'should' spend on housing is 1/3 of your income. So if you make 50k, 50k/3=16,667. For monthly expenses divide that by 12 = 1389.


Multiply that by 100, and that's a very conservative estimate of what you can 'afford' to take out. So if you are financing the whole thing, staying under $138,900 would be good. Then just add what ever you have to put down (remember to subtract closing costs) to that figure -- and that is a good maximum to have in mind.How much do banks usually lend for mortgages?
Absolutely there is a formula (I don't know what it is though) but, it must be based on your assets, value of the property etc... talk to your banker ;o)
Your loan amount and rate depends on your down payment, value of the property, and your credit rating.
all depends on your credit, you should be able to get about 250-280k on your income if you have good credit, but make sure you can afford the payments before you commit.





50% down is a lot, it will take a long time to save that kind of money
In my experience, it's usually about 85% of the purchase price. If you put 50% down, you should be all set regardless.
they're generally not going to lend more than the house is worth - usually require a down payment - could be from 10,000 to 10,000,000 - depends on the house and how much the buyer can afford in monthly pmts -
There are lots of formulas. Your Debt-to-income ratio is the most important. The bank wants to know that you bring home enough each month to pay all your bills. Your maximum loan amount if kind of calculated in reverse from that. They determine how much you can afford to pay each month, then apply that to the term options available to you.
I can't believe all these people on here, including you who ask these questions whom most of them don't have a clue! Go talk with a loan officer and your locate mortgage company. Get the real facts, not just some guess work.