How Much Mortgage Can I Afford

Alexander Said:

how much mortgage can i afford?

We Answered:

How much debt do you have and how much money do you make???

Jason Said:

How much can I afford for a monthly mortgage?

We Answered:

I believe the financial guru's rule is 30% so $603.

Derrick Said:

How much mortgage can we afford?

We Answered:

NOT more than 2.5 times your annual income for house price. So if it's 80K for the two of you that's $160-200000 or so for a house. If it's $160K for the two of you, multiply it out. Depends on your debt ratio, too.
Having good credit rating and 20% down payment with low debt ratio means you should qualify for best interest rate. Need stable employment and sufficient income too.

Chris Said:

I want buy home. how much mortgage I can afford ?and how I get loan?

We Answered:

With your credit scores, you might be able to get an FHA loan, which would require a 3.5% down payment.
You should talk to a lender to see what you can qualify for: you haven't given us enough information.
They are going to look at
Credit score
Credit history
Down payment amount
Income
other liabilities
job stability.
To determine the loan amount.

Marjorie Said:

Does anyone know how to work out how much mortgage you can afford?

We Answered:

Google "mortgage calculator." There are a numbe rof websites with such things available.

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