2007-03-01 06:11:54 · 8 answers · asked by Dev 1 in Business & Finance ➔ Personal Finance
and i am from wales. basically need for mone than 3 times my joint income. thanks.
2007-03-01 06:56:18 · update #1
Mortgage companies do not go by salary they go by debt to income ratios and credit scores. If you make a decent salary, have job security and stability, owe very little if any debt and have a 700 or over credit score than you should have no problem getting a mortgage with any of the reputable companies out there.
2007-03-01 06:17:06 · answer #1 · answered by pamomof4 5 · 1⤊ 1⤋
The basic rule of thumb is that you are able to afford a mortgage that is 2.5 to 3 times the amount of your gross annual income. For example, if you make $24,000 per year, you should be able to afford a home in the range of $60,000 - $72,000.
If someone tells you that you can afford a loan that is 5 times the amount of your annual income, be weary! They are probably predatory lenders who will put you into a loan that is not right for you and your financial situation.
Do some homework and protect yourself. Good luck!
2007-03-01 14:22:18 · answer #2 · answered by YSIC 7 · 1⤊ 0⤋
abbey is offering 5 time your income mortgages
2007-03-01 14:22:16 · answer #3 · answered by puzzled? 3 · 0⤊ 0⤋
You might be better off with a self-certified mortgage whereby income is not so relevant, rather your ability to pay.
2007-03-01 15:37:03 · answer #4 · answered by Anonymous · 0⤊ 0⤋
the Abby national gives you 5 times you salary hope this is use full
2007-03-01 17:29:56 · answer #5 · answered by charles d 1 · 0⤊ 0⤋
Hi,
Abbey does but it depends on ur personal circumatances.
HTH Rx
2007-03-01 14:21:37 · answer #6 · answered by Renee 2 · 0⤊ 0⤋
Abbey.
2007-03-01 14:17:47 · answer #7 · answered by Anonymous · 1⤊ 0⤋
You don't specify what country you're from!
England?? Your best bet is Abbey.
2007-03-01 14:26:29 · answer #8 · answered by FiB 2 · 0⤊ 0⤋