.$1050 per month income X 12 months = $12,600 annual Gross Rental IncomeGRM=$40,000/$12,600=3.2If $52,000 is the contract priceGRM=$52,000/$12,600=4.1 (sorry not 4.2)GRM is based on your local market and is determined by comps (comparable sales in the same area).Again a 4.1 GRM is extremely strong and will most likely be lower than your area's comps.

Look up the county records for comparables/ liens/ easements on the prpoerty.Good luck.

.($2200-$2500 range)However, when I checked with large banks, just filling up the application on line, with the same data , result of payment amount is even twice as much comparing with some of the estimates from places I called.Please tell me; are these small companies crooks ?

5.How many days did it take you to sell the average home and how does that compare to the overall market?

I'm curious how the prices of specialty shop like the one you mention compare to ordering a granite top at a big box store (Lowe's, Home Depot, etc).

You are comparing apples to oranges.

A growing number of lenders today are working to remove some of the obstacles from the traditional mortgage lending process.

To answer the OP's original questions---it depends...If you used the 50K in the traditional sense (90% Lender 1st + 10% down payment), you could potential qualify for a 500K loan amount.If you used the 50K with seller assistance (75% Lender 1st + 20% Seller 2nd + 5% Down Payment), then you could potentially qualify for a 1KK loan amount.

But looking at tax value compared to value - trying to get a hold on this.Thanks for any info or opinions.

In a comparable sales approach, you select comps.