 Why are builders building all of these expensive houses people can't afford? |
| I live in a typical middle class town, however, for the past few years builders have been building all of these expensive, massive, monster homes that nobody can afford. Despite, the bid price tag, ... |
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 We are thinking of buying a home? |
| We still need to get pre qualified first. My question is, would it be better to wait and get pre qualified after we are married or is it not going to make much of a difference. Because if it ... |
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 My landlord has sent me a bill for heat we never asked him to supply in our rented home? |
| Suddenly this winter the kerosene guys delivered and filled our tank without us calling. At first we thought it was an accident becuase they left no bill. It happened a few more times and we then ... |
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 Real estate question? |
| for example, if i was going to rent a house out to someone. where do i get the lease agreement from, and who do I consult if i want to add certain clauses.... |
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 What is a reverse mortgage........? |
Additional Details
What if the house is paid off.............. |
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 Do I need homeowners insurance on a home i only plan to own for 2 months? |
| Im buying the home with cash and flipping it within about 2 months. So would i need homeowners at all? Policies usually are for one year i thought.... |
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 What's better fixed or adjustable mortgage? |
can adjustable become fixed later?
Additional Details
Thanks everyone !! :) :)... |
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 What is the housing market going to do? What is the best time to buy a home? |
We are looking to buy a new home (primary residence), but are anxious given the state of the housing market these days.
There is a house we are particularly interested in, but it is a ... |
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| I was buying this house and left a check deposit of $1,000 to my real estate agent. We opened escrow and had the house inspected for pest. The report came back and I wasn't happy with the ... |
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 Landlord trying to keep most of my security deposit. What can I do? I didn't take any pictures, regretfully. |
| Most of the deductions were already existing in the home or normal wear and tear. How am I supposed to prove this. Is hiring a lawyer going to cost me more than the $995 refund.... |
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 Does anyone know how to find out what mortgage I would be approved for before we go to bank? |
| My hubby and I both make about 45K before taxes. Our credit scores are about 715. Our current rent is $810. The houses we are looking at are about 95K. I am graduating from nursing school next year, ... |
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| What all do they check for in a rental application? |
| Just credit or do they do background criminal checks also?... |
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 I this property a good investment or at least not STUPID?? |
| There is a lake resort about an hour from my house, where you can buy rv lots and cabins. The price for the 1 bedroom cabin I want is just under 50k. there is also a $75 monthly "resort fee"... |
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 What can we do?!! Help!? |
| My boyfriend and I found an apartment that we really liked and were planning on moving into in 4 days. When we viewed the apartment, there were certain features that we really liked and made the sale ... |
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 I need help with my Real Estate Agent? |
| I'm trying to sell my house and have it listed with a local real estate agent. The problem is that she isn't working very hard (or at all) to sell the house. My question is, how do you ... |
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monicanena | I make $35k - how much home could I afford? |
Condos are as low as $99k where I live, plus I'm eligible for first-time homebuyer grants. |
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Landlord
 |
Who told you that tax payers gave out grants for first time buyers?
You should qualify for this condo, but you are close to the edge. The amount of the HOA fees would determine if you qualify or not. I am assuming you have good credit as well. |
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origamimark
 |
Go for a condo then - repayments on $99K will not consume too much of your money.
They reckon 3.5 times annual salary is a good guide. |
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kelly
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not much at all, the most of the home you could buy would be in the high 60's and maybe low 70's. Unless you have a very large down payment. |
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Doctor Deth
 |
$99k would be pushing it, because you would also have extra monthly expense of condo fees and if you have any other debt other than a car pmt under 300/mo, forget it, you'll end up like the millions of others in foreclosure - plus, do you have $10k in cash for down pmt and closing costs? |
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Gertie
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not very much have you tried getting pre-approved |
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saberhilt
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Is the 35k pre or post taxes?
Does the state you live in have it's own state income tax?
What's your take home pay?
What's your current rent?
How much more per month can you afford for housing? Be honest on this, not hopefull/idealistic. If you budget for ramien noddles, can you eat them for the next 30 years? =)
Realize also you'l be needing to pay for a few extras:
Condo or home insurance
HOA fees
Utilities (if you're not paying them already)
PMI
You might try to find a foreclosure home or condo for under the 100k mark.
The loan payment alone on a 100k loan for 30 years fixed at 6% is around $800. That's $9600 a year. So your mortgage would eat a third of your money for the year. |
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ridingis4life
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Probably the most would be 140,000, but that is assuming that you have a great credit score and that you would be putting money down towards a condo/townhouse. Go see a bank lender for more details. They would be able to provide you with information re: what you could afford, and would estimate a price for you that included the taxes, association fee, and money for the home all in one mortgage. Good luck |
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Mum D
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100-140k homes good. |
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T Taylor
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For the FHA loan program, generally, you dont want more than 33% of your monthly income to go towards your housing payment. If your monthly income is $2,917, then no more than $962.50 should go towards your housing payment. This includes taxes and insurance in that amount.
Also, you can have no more than 41% of your monthly income going towards both your new housing payment and other debt payments. This means no more than $1,195 a month can go to housing, car, credit cards, and other types of loans.
There are exceptions - but this is the general rule.
Based on a 99K loan, you may be able to afford it - but it will also depend on tax and insurance costs in your area, and your other debts as well. |
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indee.
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Between me and my husbands income we make 50,000. We bought a 100,000 dollar house and live comfortably. We also have student loans and a car payment.
Don't get yourself in too deep! Who wants to spend all of their income on a house payment and not be able to do anything else?!
Also keep in mind that when you buy a home, there are so many additional costs, like a lawn mower and things like that. |
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