The lender considers your debt‐to‐income ratio, which is a comparison of your gross (pre‐tax) income to housing and non‐housing expenses. Non‐housing expenses include such long‐term debts as car or student loan payments, alimony, or child support. According to the FHA, monthly mortgage payments should be no more than 29% of gross income, while the mortgage payment, combined with non‐housing expenses, 4 should total no more than 41% of income. The lender also considers cash available for down payment and closing costs, credit history, etc. when determining your maximum loan amount.