Need mortgage for house
2006-10-23 05:58:37 · 6 answers · asked by Sandeep B 1 in Home & Garden ➔ Other - Home & Garden
There are several online websites that will include a calculator to determine this but you need a little more information...
Try your bank first, they probably have a mortgage qualification calculator at the website... You'll need your income (80000), whether you're married or single, and your total current debt (car loans, credit cards)... Just input these numbers and an assumed interest rate and how much down payment you can come up with and they will tell you how big a loan you can qualify for...
If your bank doesn't have this calculator try Quicken.com or Fidelity.com or Money.com
2006-10-23 06:08:40 · answer #1 · answered by Andy FF1,2,CrTr,4,5,6,7,8,9,10 5 · 0⤊ 0⤋
You can go use a stated income program and not even worry about your income. Just make sure you can afford the payments.
I would guess you are in the 500 - 600k range if you have no other bills.
Matt
http://www.diversifiedlender.com
http://www.minnesota-mortgage-rates.net
http://www.refinance-second-mortgage.biz
2006-10-25 09:47:03 · answer #2 · answered by Matt J 3 · 0⤊ 0⤋
A mortgage qualification is not only based on income. Lenders need to see your credit history, assets, liabilities and other factors. I can provide you with a personalized qualification, you can visit my website www.bletza.com for more information.
2006-10-25 22:03:10 · answer #3 · answered by H.V. 1 · 0⤊ 0⤋
You definately need to speak to a mortgage professional. Please check out www.satisfund.com there you can take a quick app, someone will pre-qualify you based on those figures and let you know what you qualify for.
Sincerely,
Jaime
2006-10-24 17:38:11 · answer #4 · answered by jcred2201 2 · 0⤊ 0⤋
figure on max. of 28% of gross income for PITI, ie principal, interest, property taxes, and property insurance. also figure on max of 36% for all loans including home, car, boat, etc.
2006-10-23 13:10:37 · answer #5 · answered by richt1234 2 · 0⤊ 0⤋
I would probably guess between $200,000 and $250,000. Simple answer. Nothing complicated.
2006-10-23 13:23:06 · answer #6 · answered by bugear001 6 · 0⤊ 0⤋