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How much can I borrow with a $50,000 annual income?

  • November 15 2010 - US
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Answers (2)

I agree with the other contributor.  Other current monthly debt service payments for outstanding revolving and or installment debt need to be considered as well as monthly property tax, homeowner insurance, etc.  In addition, your FICO score along with down payment and loan type will dictate your rate and fee options.  Your best bet is to consult with a recommended local lender that has a proven track record with both local Real Estate Professionals and Escrow/Closing Agents.
  • November 15 2010
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Profile picture for mymortgagebrokerjoe
a good rule of thumb is 3 times your yearly income, but there are many factors which affect how much you can borrow, such as interest rate, real estate taxes, homeowner's insurance, and homeowner's association dues, etc. your best bet is to contact a qualified professional and have them qualify you.
  • November 15 2010
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