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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COOPER999 asked:


I am 32 and make $64K annually. I have no debt whatsoever, not even a car payment (though I likely will at some point in the future once the one I own now clunks out). I have about $6K saved up (continually increases) and my 3 credit score average is 789.

Not making a big down payment bothers me-I don’t want to pay PMI, but I’ve heard about these 80/20 loans. Those in the know, what price range do you think I can comfortably, realistically afford? And what if I wanted to ‘push it’ a little and buy something a bit more expensive (though not risky)?

Thanks!

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James G asked:


Hello everyone,

I am really interested in buying a house soon (or a condo if I can’t afford a house). I am not married, I have no dependents, I currently have a 690 FICO score, no debts, first time buyer, and I make 36,000 a year. Also, I don’t have any cash for a down payment.

What kind of loans are available to me? What is the max I can spend? Any suggestions/tips would be greatly appreciated!
Also, I live in Central California if that helps!

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