We're about 50K in debt, I make about 40K/year we have 3 kids and we just don't seem to be able to be getting anywhere. I would really like to be able to have my own place, not right in the city, but somewhere where I can keep animals and do gardening. We're on Whidbey Island now (WA), and have been considering AZ or San Antonio TX. But real estate prices are insane.
2006-11-16 09:47:59 · 6 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Mortgage bankers looks at your MONTHLY debt-to-income ratios, not your overall balances. Take your income and divide it by your total debt payments to get your debt-to-income ratio. You can go onto my bank's website to figure out some rough montly payments if you get a mortgage. If you total debt-to-income ratio is above 50%, then you are overextended. Financial planners advise that you don't go over 40% or so debt-to-income ratio, but mortgage banks are more than willing to lend you a little more than that.
Feel free to email me if you have any questions: peter@chicagobancorp.com
Website: www.chicagobancorp.com
2006-11-16 09:53:18 · answer #1 · answered by Peter N 2 · 0⤊ 1⤋
Come to San Antonio. I moved here almost 15 years ago from NW Indiana, and I'll never leave now.
House prices are lower than most markets this size. Family friendly town, and we've got the Spurs, Sea World, Fiesta Texas and don't forget the Alamo. (actually, I think that's supposed to be "Remember the Alamo".)
2006-11-17 01:41:53 · answer #2 · answered by teran_realtor 7 · 0⤊ 0⤋
Hi there-
I would love to help you with your situation, I need a little more details but think you could definitely get approved to buy a house.
Go to my website and fill out an application
www.americanhm.com/denielle.hass
Also if you want I have a free tool for you to search for homes. I can enroll you today if you like...
2006-11-16 17:54:00 · answer #3 · answered by Anonymous · 0⤊ 0⤋
yes- you wil find a nice properety
no- it probably wont be in AZ or San Antonio
2006-11-16 17:53:40 · answer #4 · answered by NoneOfThat 1 · 0⤊ 0⤋
Talk to a real estate agent:
http://www.realestateagentlive.com/
2006-11-16 17:57:37 · answer #5 · answered by Matt J 3 · 0⤊ 0⤋
Theres always hope.
2006-11-16 21:24:50 · answer #6 · answered by margo 3 · 0⤊ 0⤋