How much house can I afford - According to the lender?
September 15, 2008
LuckyOne asked:
My husband and I make $70,000 before tax per year and our total monthly bills (cars, credit cards, student loans, insurance etc.) are about $1300/month. I think we can afford an $1,100/month mortgage payment - about $168,000 home - but what will the lender say? Our credit is rated in the middle - about 620 average score.
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My husband and I make $70,000 before tax per year and our total monthly bills (cars, credit cards, student loans, insurance etc.) are about $1300/month. I think we can afford an $1,100/month mortgage payment - about $168,000 home - but what will the lender say? Our credit is rated in the middle - about 620 average score.
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Josh Dunaway has been a certfied Realtor in the suburban Chicagoland area for over 20 years. Aside from starting his own real estate company, he also owns a mortgage company as well.