irish
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only you can answer that. we dont know your financial status as you know. |
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tabitha
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It totally depends on how much money you have, your employment, credit history and the location of where you are looking. |
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Starz
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With any luck, the vendor will let you keep about 1/6 of the attic, and maybe some of the garage. |
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Pengy
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Here is a site to get started figuring that out
http://cgi.money.cnn.com/tools/houseafford/houseafford.html |
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Owlwings
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Let us hope a whole one! You need to go to a mortgage company with details (and evidence) of your income and savings for a deposit so that they can assess how much money they can lend you. Then you need to look at current house prices in the area you are interested in. |
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Pammy
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This is a hard question because it depends on TONS of other things.
1-how much is this house you want to buy
2- what percentage of the value do you have saved up for a down payment.
3- how good is your credit? This will determine you interest rate, along with how much you put for a down payment
4- how long of a mortgage do you want to have? (15 year, 30 year)
5- are you putting the escrow in the mortgage or seperate? if it's in the mortgage then your monthly payments will be a lot more. BUT, if you have it as a seperate account, come the 1st of the year you will owe all the property taxes and insurance in one lump sum, and this can be very expensive too.
My advice is to go talk to a real estate agent once you have figured out your finances and you know how much you can put down and about what you can afford in monthly payments (with the escrow in there) and ask them to help you figure out how much house you can afford. It's a complicated process and better if you have a professional help you out. |
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Sam N
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well there is always a box big or small it doesnt matter i live in a box and love it |
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Lynn
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Will you have any money left over to eat with after you pay all expenses? |
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Mallory W.
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i wouldnt know if i didnt know how much you make in a month and what house you want... more info pleasee |
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Tom@homeloansoftexas.com
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Good question...complicated answer.
Most people can still qualify for 100% financing, but many lenders either can't do it or don't understand it. A very attractive FHA loan with Downpayment Assistance can allow you to buy for nothing out of pocket up to at least $200,000, assuming you qualify.
I see two groups of borrowers. One is buying well within their means, and are only comfortable with a lower payment than they actually qualify for. The other is pushing it, and it's a challenge to get them qualified.
So what you can afford has two points: how much loan (payment) you can get qualified for, and how much monthly payment you really want to have.
There are no magic numbers, as far as 34%, or 50%, or whatever. These days, the vast majority of loans are approved via automated underwriting, which regulary exceeds any ratio guidelines. Your credit, assets, income, down payment, loan term, etc., will determine whether you can get approved, and for how much.
You can get more info on my website, www.homeloansoftexas.com. Good luck.
Tom |
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godged
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Contact a local mortgage lender and review your finances. Don't go to internet lenders, they won't know about local programs you can qualify for.
Know what you can comfortably afford. I know I could go out and get pre-approved for WAY more than I could afford within my budget, so before you go out and fall in love with that big house you were "pre-approved" for the amount of, know your finances. |
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logsdodl
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You will need at lease 20% of the price of the house as a down payment to be consider for home loan.
So what you need to do is talk to a real estate agent and get pre approved for loan. They will tell you straight up how much you can afford. |
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capixaba
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Be conservative. If the PITI is more than 34% of your gross monthly income, it costs too much. Mostly, be careful not to allow materialism to enslave you. Quality of life is hard to attain when all your work and energy goes just to paying bills. |
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Sassy
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Need more information, such as, how much is the house going for and how much is your total income. Usually it is recommended that a house take 1/3 of your income but for most people that is not reality. It usually takes 1/2 to 3/4 income and since the housing boom, housing is out of reach for many people. |
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Miss Fix It
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A love shack. |
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Lord Phineas P. Pennebaker
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2 or 3 walls, but on your salary don't expect a 4th wall and a roof |
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ohusman
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It depend if your boy friend pay for house and he is very rich then you can afford 5 or 6 houses lol
other wise only one |
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Fez's World
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i don't understand ur question |
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