How do I qualify for a mortgage?

Lenders usually use the following two qualifying guidelines to decide how much of a loan you can manage:
• Your monthly housing expenses – mortgage payment, property taxes, insurance, etc. These expenses should total no more than 28 percent of your monthly gross income
• Your monthly living expenses and any long-term debts – utilities, car and school loan, child support, health and car insurance, etc. These expenses should be no more than 36 percent of your monthly gross income.