2007-02-03 05:04:34 · 6 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
The typical standard is to finance 3 times your annual salary. For you roughly $90k. Then remember you need at least a 20% down payment to avoid PMI insurance.
2007-02-03 05:10:31 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Well I make about 37,000 a year and I can barely afford my mortgage on a $125,000 mortgage (30yr fixed at 6.5%). Some websites have a calculator to help you with this. You need to figure out your budget and other spending. You could do a 80/20 mortgage to avoid pmi insurance without putting any money down.
2007-02-03 13:14:35 · answer #2 · answered by TeresaW 2 · 0⤊ 0⤋
You should really work out how much of a payment you can afford to make on your current budget. But you should be able to find banks that will loan you between 86,000 -145,000. Depending on where you live and the housing market. I personally wouldn't go over 100 K at that salary.
2007-02-03 13:51:35 · answer #3 · answered by I love sushi 4 · 1⤊ 0⤋
No more than $100,000 for sure! Look between 2 and 3 times your annual income after taxes.
2007-02-03 13:08:34 · answer #4 · answered by panthrchic 4 · 0⤊ 0⤋
depending on your other debts, 75-100k would be a good starting place.
2007-02-03 13:07:52 · answer #5 · answered by Scott K 2 · 0⤊ 0⤋
you better start looking into trailer parks.
2007-02-03 13:25:06 · answer #6 · answered by Anonymous · 1⤊ 0⤋