peaceflygirl asked:


My husband and I want to buy a house next year, but no way can we afford LA house pricing. We are trying to find a house that’s midway between the Inland Empire and Los Angeles, as I plan to attain a job in LA and my husband works in the IE.

We just want to find a midpoint that doesn’t have extreme house prices. Any suggestions?

Thanks in advance!

Kansieo.com

browneyedgirl asked:


If I have perfect credit, no loans anywhere, no credit card debt or car payments, and want to and can pay $2,200 a month on mortgage (regardess of my income), and can afford $65,000 down payment inclusive of closing costs, and assuming a tax rate on real estate of 8% where I live, and I want a 30 year mortgage, what is the house I can afford at an interest rate of about 6%? Please do the math for your points, don’t give me a link.

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ROGER N asked:


no charge card, 350 car payment. 10% down payment

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Bellegirl asked:


I live in orlando, Florida. I’m looking to purchase my first home. I make $45,000. I don’t have any debt just a car payment for $400 and car insurance. I can put $10,000. I’m a single with no kids and was wondering how much house i can afford and how much a bank would lend me.

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Matthew R asked:


When I say “As much house as you can afford” I am not referring to ARM’s, or funky financing.

But here’s how I look at it. Let’s assume that you play it safe, and buy a house for $150,000. The house increases 3% a year. you have $200 left over every month to save.

The house increases 3% a year and in 10 years is worth about $195,000. net gain–$45,000 house gain, plus $200 saved every month over 10 years is a grand total of $69,000 growth.

Now let’s same the same couple in a funky universe decided to buy a $185,000. they didn’t save any money every month. The same rules applied and the house increased 3% a year. Since the house has more value, the gains are larger. For example, a 3% gain on $185,000 over 10 years is worth $247,000. A net gain of $62,000.

So the couple bought more a house for just a few more dollars per month over a 10 year period when looking at total gains.

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a bear hugs asked:


What amount should I be expected to pay, and what would you suggest would be a good lender to use?
What is the total amount of the house would I be able to afford too
thanks swat because you hit the nail right on the wall.
that means if i add someone elses income then we can pay 800 per month in a mortgage and the house would be like 60000 dollars. thats even steven by my book

houses where i saw are going for reasonable
and half of that so it will work out well.

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MeB asked:


I plan on buying my 1st home this spring. I gross about 65k/yr and the only debt I have is a $222/mo car payment. My credit scores are 729,744,779. I have about 125k in CDS/moneymarkets and plan on using about 40k for a downpayment. I don’t want to be “house poor” but I don’t want a fixer-upper ether. My questions are how much house can I afford comfortable(what price range should I be looking at). Plus how will lenders view me with the info given above and is there anything else they look at when applying for a house loan? I plan on looking in the Albany new york area.

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Dom asked:


I want to buy a house next January near Sacramento, Ca. The housing prices are $270,000+ and the cheapest it gets in a decent area is $250,000. Rent in the similar area is $1500.

-We are a family of 3 and have a monthly take home of $5400.
-We have $10,000 in credit card debt (using 18% of total credit), $10,000 in school loans, and pay $530 a month for a car.
-Our current FICO scores are 712 and 719.
-I am an accountant trying for my CPA and my wife is a social worker
-The goal is to save $10,000 in cash to put down and have the credit cards completely paid off.
1) What interest rate should we qualify for?
2) What are the monthly bills we need to pay for the house (Insurance, taxes……)?
3) How much can we afford?
4) Any other advice?

Yes I know that it would be nice to save 20% and then buy a house but California’s house prices are too high. Anything else you need to know?
New houses are advertised at the same price as used ones. Used ones have grass and already are decorated while new homes are not. For the same purchase price, is it better to go used or new for a first home?
For that calculation, do you use take home numbers or pretax figures? If it is pretax then we actually make $6833 a month

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morelia_lady asked:


My husband and I live in Canada, are in our mid-twenties, and have a combined income of slightly more than $73,000.
We currently rent, have no debt, no car, and some small savings. Our expenses aren’t that high - normal TV / Internet / Phone, no alcohol or cigarettes and we don’t eat out that much.
We are contemplating buying the house, but it seems like it will be tight because we will also need a car to buy a house (not a townhouse) slightly outside of town.
So, I’m just wondering, in general, if you saw someone with a normal car, maybe a low end 2003-2005 model, and a small house, no kids, a few pets, how much would you think they have to earn to be able to afford that and continue to put a bit aside for RRSPs and such?
I tend to spend a fair bit on house stuff - we are still buying “essentials” like sheets, towels, blenders. Also minor expenses like bus pass, pet food, shampoo etc.
Plus what we put into our savings which is about 10-12% of our net income.

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Debbie V asked:


my credit score is 700. And I’m going to put 5% down.

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