i make 42,000 yr my debt is 616 a month if i calculated it right i am only qualified for 58,000 mort

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mortgage. with overtime for past 3 years.my debt to ratio only qualifies me for 58,000 mortage by myself.
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December 08 2010 - Hyattsville
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Answers (4)

Running some quick number and having previous mortgage experience for a few years , you qualify somewhere around 150K no problem.  taking in consideration that income is correct.  Guidelines are more strict, so I would for sure consult a loan officer ..this is just to give you an idea. also if you get commission, there are way different guidelines... hope this helps...
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October 11 2011
Did you purchase your new home sexy winter?
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October 11 2011
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I know the process of homebuying i am just trying to figure out my debt to ratio.Working on my credit  and do not want to have my credit pull yet until my score is where i want it to be, also have attend homebuyer workshop class ,will be attending anothe class , so i will be able to get the assistance that i need for my down payment for a fha loan.so far had 4 items deleted from credit report waiting on 2 more to be updated. worried about a 2 year old charged off.
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December 09 2010
Profile picture for Lanre Folayan
Hello! First step in the home buying process is getting a pre-approved letter from a reputable lender. If you don't have one already,I can definitely refer you to some lenders. Plus there are still some programs for home buyers. If you are interested,please let me know.
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December 08 2010
 

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