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Answers (7)
- Doug Hutchins, "90 day rate locks"
- Contributions:721
If the lease is your only consumer debt (no cc balances...no student loans) then a $190,000 price is do-able depending on the property taxes. You'd need them around $3600 or less annually to reach the $1400 goal.
I live in Monmouth County and would be glad to help.
I live in Monmouth County and would be glad to help.
- Al Akerman, "Direct Lender1"
- Contributions:16
Louis,
If you are buying a house for 190k, you should expect your payments to be more than $1,400 a month once you figure in taxes, homeowners insurance and mortgage insurance (which you have to pay when you buy a home and put down less than 20%).
Having said that, your income is sufficient for a 190k home even with the car loan and your credit is good enough to get an FHA loan so you should be fine.
Feel free to contact me if you need a Realtor in Monmouth County-I live just outside Monmouth County and I work with many Monmouth Realtors.
If you are buying a house for 190k, you should expect your payments to be more than $1,400 a month once you figure in taxes, homeowners insurance and mortgage insurance (which you have to pay when you buy a home and put down less than 20%).
Having said that, your income is sufficient for a 190k home even with the car loan and your credit is good enough to get an FHA loan so you should be fine.
Feel free to contact me if you need a Realtor in Monmouth County-I live just outside Monmouth County and I work with many Monmouth Realtors.
- Joe Cafiero, "Joe Cafiero"
- Contributions:3220
Louis...Depending on what is on your credit, it sounds like something that cna be done. I can help and also put you in touch with a realtor that focuses on Monmouth Cty. Contact me through me profile.
- Frank Festa, "Frank J Festa"
- Contributions:1188
LouisR84: Do you work in NYC and will you use public transportation if you relocate to NJ? Would you buy a Single-family home or a Condo? I believe that I can help you if you would like to work with me. Good Luck
- LouisR84
- Contributions:8
I am looking to purchase a home of about $190k. I have a leased for $463.00, which I am trying to get rid of. I want to put down $6500.00.
Is this still possible?
- Wayne Brown, "SDMortgagefinder"
- Contributions:1433
Find a good broker in your area...and I do hope good and ethical. Justin was very up front with you.
FHA might be a good option for you plus it requires only 3.5% down.
A good broker can help even if you are not quite ready from an underwriting standpoint. A good one will counsel you for free as to what it will take to get you ready somtime in the furture.
Good Luck.
FHA might be a good option for you plus it requires only 3.5% down.
A good broker can help even if you are not quite ready from an underwriting standpoint. A good one will counsel you for free as to what it will take to get you ready somtime in the furture.
Good Luck.
- Justin Sheftell, "Courtesy Mortgage"
- Contributions:3421
Since your wife score is low and she does not have any qualifying income at present, your best move would be to apply in your name only.
On 55,000 you should be able to qualify for something, the question becomes how much and will it allow you to purchase what you want in NJ.
Other important factors at play here are how much of a down payment you are able to make and what other existing debts you have that will remain after your purchase.
Your case sounds borderline, but certainly not impossible.
On 55,000 you should be able to qualify for something, the question becomes how much and will it allow you to purchase what you want in NJ.
Other important factors at play here are how much of a down payment you are able to make and what other existing debts you have that will remain after your purchase.
Your case sounds borderline, but certainly not impossible.
Chases of getting a mortgage
My wife and I are expecting our sencond child,and will be needing a bigger place. We currently live in a two bedroom in Queens, Ny. We looked aroung for a three bedroom in the same area, and the rents are insane. We would love to buy a place in Monmouth county NJ. My median score is 633, and my wife is 610. Do we have a chance of getting a mortgage? My gross is about $55000, my wife is receiving unemployment benefits right now. I would like to have a payment of $1400 or less. Thank you.
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