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How much of a house can I afford?

October 27, 2008 · Print This Article

how much house can i afford
pastcars asked:


I live in las angeles. My yearly income is between 30,000 and 40,000. I have no debt and my credit score is excellent. I am looking into a house for sale for 850,000. I am a single guy and I live alone so I don`t have as many things to buy as a family would. Can I afford this house? If not how much can I afford

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Written by william · Filed Under Afford 
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Comments

3 Responses to “How much of a house can I afford?”

  1. LK on October 27th, 2008 5:51 pm

    i would say more of 400,000 to 500,000 ….depending on how much money you have left over to pay for the house monthly

  2. tkahrs12122 on October 28th, 2008 9:11 am

    On that yearly income a mortgage company would lend you no more than 150k so unless you have 700,000 as a down payment you better lower your standards and get a better paying job

  3. Hopeful For 2! on October 29th, 2008 1:06 pm

    are you joking? you have to be. how would you pay a $5,000 mortgage with a $3,500 monthly income? i really hope you’re joking.

    *edit you could only “afford” a $200,000 loan at the absolute most, and that’s if the lender is being generous. it takes more than a credit score to get a loan in in this ecomy right now.

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