The house is a million dollars (no more no less). They plan to live in it forever. Also they got 250,00 dollars (after payment of remaining morgages) from their old house. They Make 350 thousand dollars a year. They have one current 150k loan. Thanks
PS - This Is Not Me
2007-01-10 10:53:32 · 3 answers · asked by maytag 1 in Business & Finance ➔ Credit
Would this person be able to afford this house. Sorry Typo. Thanks
2007-01-10 10:54:20 · update #1
Depends on what all their monthly bills are. Car payments, credit card debt, etc. 350k sounds like they could very well afford it if they do not overspend in other areas. Have them talk to a loan officer to see what rates they qualify for. You can also google mortgage calculator to find a calculator that will determine what the monthly payments on that would be.
2007-01-10 12:09:43 · answer #1 · answered by skylaraislinn 2 · 1⤊ 0⤋
At $350,000 per year, they can afford the house IF they don't overspend in other areas. For that matter, they can afford just about anything if it is their only priority.
2007-01-10 21:05:56 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
Lol, you know that is you!
Liar!
2007-01-10 20:05:46 · answer #3 · answered by Help? 3 · 0⤊ 1⤋