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Answers (5)
- sunnyview
- Contributions:25127
This Austin real estate blog here has really good charts and info. If you want to know how much you might qualify for you might try the how much can I afford calculator here. This mortgage qualifier here also lets you go by income, desired monthly payment amount or purchase price. You can run your numbers through those and see what you would feel comfortable with based on your situtation.
- Donna Harris, "Donna Harris"
- Contributions:46
If you're recently laidoff and you have no other income than the $1400 a month, If you could find a condo somewhere under $30k, you might be able to obtain financing, but doubt it. Not trying to be rude, but when you don't have a job with actual income coming in, and mortgages are based off of "debt to income ratios", I don't see how a lender would allow you to buy anything right now...
- Derek Pflaum, "GroovyRealtor"
- Contributions:21
At first blush I'd guess $140-$155k...but there are LOTS of variables.
- vivianne
- Contributions:22
Hey, Goldenguest,
I am an Austin area Realtor and would be happy to help. I read the answer sent to you and I hope that your combined income is more than $1400/mo because you could not get a loan under this circumstance. With the kind of down payment you have, you should go for a conventional loan, FHA loans are generally used for people with less than 5% down payment available, I cannot see any other advantage in it. Remember that the more you put down, the lower your monthly payments will be.
Where exactly "near Austin" are you interested to settle? There are some very nice cities around Austin, like Cedar Park, Round Rock, Pflugerville with quite affordable home prices.
Let me know if I can help with this home purchase.
Good luck!
I am an Austin area Realtor and would be happy to help. I read the answer sent to you and I hope that your combined income is more than $1400/mo because you could not get a loan under this circumstance. With the kind of down payment you have, you should go for a conventional loan, FHA loans are generally used for people with less than 5% down payment available, I cannot see any other advantage in it. Remember that the more you put down, the lower your monthly payments will be.
Where exactly "near Austin" are you interested to settle? There are some very nice cities around Austin, like Cedar Park, Round Rock, Pflugerville with quite affordable home prices.
Let me know if I can help with this home purchase.
Good luck!
- Kimberly Brandon, CRS,GRI,SFR, "KimberlyBrandon"
- Contributions:260
Is $1400.00 your total monthly income or just what you'll receive from SS.
If this is your total income you really need to look at renting. Frankly you won't have enough money to own AND maintain a home.
Forgive me if I've misunderstood your figures.
If this is your total income you really need to look at renting. Frankly you won't have enough money to own AND maintain a home.
Forgive me if I've misunderstood your figures.
Any realtors near Austin Tx area? Need Help!!!!
Recently layoff; months from retirement, excellet credit score, capable of providing down payment between $15,000-20,000; combined (self, wife) montly SS income benefits of $1400; First time home buyer. Would like to settle near Austin Tx area. What is the maximum loan amount I could find covering taxes, insurance and living expenses?
What options do I have? (FHA,USDA R&D) Help with the puzzle!!
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