i need some budget advice. and will an apartment complex turn me down knowing the bills i already pay?
2007-03-16 11:01:58 · 6 answers · asked by auroa26 3 in Business & Finance ➔ Renting & Real Estate
Your car insurance amount won't show up on your credit report. Is that $284 a month? You can't afford that kind of rent. You did not indicate if your $500 a week was net or gross, but even if it's gross, that is only $2000 a month. You are paying over $600 just for your car (including gas and regular maintenence) and then you have food, clothes, utilities, etc. Maybe you should get a $900 apartment and a roommate so your rent is half of $900 = $450. That is a more reasonable amount for someone in your situation to pay. Do not get yourself into an unreasonable financial situation. That car is KILLING you, I hope it's worth it.
2007-03-16 11:24:50 · answer #1 · answered by Anonymous · 1⤊ 0⤋
If this is all the debt you have--the insurance and car note, you can squeak by. It will be up to the rental property to determine if your debt to income ratio and credit score will qualify you. Probably, you should make a general listing of everything you spend money on each month: food, gasoline, clothing, cleaners, dining out, entertainment, vacation plans, etc. That will help you know better than anything.
2007-03-16 18:10:31 · answer #2 · answered by Joseph H 4 · 1⤊ 1⤋
No you can not afford this kind of rent. Assuming 25% taken out for taxes this would only leave you with $288.00 to pay all of your utilities, buy food, gas for you car, clothes etc. Bad math.
Find a roommate to share the rent and utilities and you might have a chance.
2007-03-16 18:08:17 · answer #3 · answered by ? 7 · 4⤊ 1⤋
It's not a problem in most cases if you have good credit history.
2007-03-16 18:12:23 · answer #4 · answered by E u g e 1 · 0⤊ 1⤋
the old formula for that was 25% for housing, but i do believe that was changed to 35%...
2007-03-16 18:08:13 · answer #5 · answered by Anonymous · 0⤊ 1⤋
yes, u would have like 600 dollars left over..
2007-03-16 18:29:34 · answer #6 · answered by shorty21 5 · 0⤊ 1⤋