When seeking out a mortgage loan on your new Jacksonville home purchase, there are some things to keep in mind. When financing Jacksonville real estate, a decent guideline to follow, similar to that used by lenders, is your monthly housing expenses should not go beyond 28 % of your gross monthly income. This includes monthly payments as well as insurances and taxes. The total debt and monthly housing expense cannot surpass 36% of the gross monthly income. This will cause your loan to be denied in most cases. If your first loan is not accepted, there are other types of loans available, each with different guidelines. The amount of down payment you can pay has a significant impact on your loan qualification. The bigger the down payment, the smaller the monthly payment will be. All of these financial obligations need to be considered when purchasing a home.