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Once upon a time long, long ago I sat across the desk from a banker and listened to the clock tick as he scanned my loan application for my first house. As the vest buttons of his three piece suit strained, he looked over his reading glasses at me and with the experience of having looked at hundreds, maybe more, of these applications he said,

"You didn't borrow any of this down payment, did you? We'll be able to find out if you didn't save it yourself?"

"Oh, no sir. All twenty percent of the down payment is mine."

"Well, you're pushing it with your monthly payment being 27% of your gross income. We prefer the payment to be no more than 25% of your net income. We might be able to do something but I can't guarantee it."