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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tygger asked:


I found this mortgage calculator provided by a home builder. This one not only includes Principle and Interest, it also appears to include Taxes and Insurance (although, not sure how accurate).

In the link, click up top on “How much can I afford” and select “Find out how much my monthly payment would be.” And select your state.

http://www.mihomes.com/

Please tell me if this is pretty accurate. It doesn’t add in PMI, instead it breaks it out to two mortgages, 80/20 maybe? But it doesnt tell you what the rate is on the second mortgage.

I’m just trying to figure some things out before I have my credit checked and speak to a loan officer.

Thanks

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