My fiance and I are wanting to get a home loan and here's our scenario. She's making about $300 every two weeks, which translates roughly into 600 a month. I was just recently unjustly discharged from my job and I'm currently getting unemployment and I'm getting about 580 a month and I'm looking for a job. We're currently renting a townhouse for $530 a month, so we can easily afford a home loan with a monthly payment under 600 dollars a month. But I doubt the banks really look at that, they usually just look at debt ratio and credit score. But my question is, Are we going to be able to get a home loan? We're going to the bank on Friday to see how much we can get pre-approved for, but before going I just want to see if that will be a waste of time, how much do the people in the Yahoo! Answers community think we'll be able to get approved for.
I should also mention that we both have fairly decent credit, we don't really have anything bad on our reports.
2007-01-23
07:28:26
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7 answers
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asked by
Chovo
1
in
Renting & Real Estate