gross of 1500+ enough to get a house AND IF YES HOW??

Question

i live in a apt but thinking
i want a house make about 1500+ a month
how could i accomplish
geting a house instead of renting

make 2 checks every 2 weeks
about 800 total plus take home
every 2 weeks so about 15 1600+
a month

were could i step my feet in the door

u know how do start
and whats the best way to start

thank you all for help
if i could give u all points i would
i will let run for some more time
and let yahoo vote
couse i cant choose
there all helping me thankyou

Answer 1

You do make enough to buy a home but there are other factors to consider. First you need to take note of your credit score-that is going to be a big determining factor. Also, you hopefully don't have a lot of debt because a lender is going to look at what other monthly bills that you have.
I know a lot of people are trying to hit you up for business on here. Be careful because the more you let people pull your credit, the lower it goes. I work for a title company and see a lot of good (and bad) loan officers. If you want the name of some that are honest, shoot me an email and I will get you some contact information.

Stephanie
[e-mail]

Answer 2

Unless you have a sizable down payment it will be difficult to qualify for a decent home. Most lenders will consider you can qualify for a payment of approximately 25-30% of your monthly earnings. There are other factors which must be considered, but you may be able to qualify for a house payment of approximately $400-540/month. Keep in mind that you will likely need a down payment and closing costs. Some of those costs may be able to be added to the cost of a loan. There are also additional costs involved in owning a home rather than renting. I don't want to discourage you. If this is something you want, it is a great way to build personal assets and have a tax deduction. Interest from a mortgage is deductable on taxes. By the way, you may want to check with a mortgage company or mortgage broker who can better advise you as to what you may be able to qualify. Good luck.

Answer 3

Hello,

I am a Loan officer in CA and can qualify you for a house with no downpayment and monthly payment of $460 a month, but you need to have excellent or good credit! Apart from this, if you want to add a co borrower and co borrower is also making some money, you will definately be qualified for a good house though!

Give me a call or Leave me an email and i will contact you
Mohit Madaan
[e-mail]
7187753226

Answer 4

Your credit score determines how much your interest rate will be. Excellent credit (no late payments and not too much credit available to you on credit cards) will get you the best rate. You can determine an estimate of $6.50 per $1,000 you borrow for your monthly payment (not including property taxes and insurance escrows). Your monthly housing payment should not be more than 25%-29% of your gross monthly income.

Answer 5

It strictly depends upon where you live. In rural areas, such as where I am from that will be enough. I bought a six bedroom house for 74,000 for 325 per month plus taxes and insurance. But in more densely populated areas it will not be enough.

Answer 6

location...location...location...and a GOOD FICO SCORE...