My credit chalk up is 650. I brand 45,000/year. Ive be at my employment for 1 1/2 years. How much mortgage can I receive?
approved for??
Answers:
actually you hold a good fico score and you hold an average income, so definitely there will be like mad of good programs for you!
as to how much you may get, it depends on the equity your home own.
why, what state are you in?
How much home do you want. There are so many programs available that just more or less any want can be satisfied. Source(s): www.totaldebtsolutionsllc.com free evaluation form
650 is devout enough to get a mortgage. You can usually afford a home worth 3x your income. Say, contained by the $150k range. Call a mortgage broker; they will have tons of option for you.
Go to this link and click on the emblem at the top and fill out the requested info. You'll get quotes hindmost from at least three major lenders. Good luck!
http://loan.divinfo.com/
It depends on many things besides your credit score but within general:
1. Your total monthly mortgage/tax/insurance payment for the house must not exceed 1/3 (33%) of your monthly gross salary. Since your monthly gross pay is $45,000/12 = $3750/mo.; a third of that would be $ 1250. Some lenders use the 28% rule, not 33%; in that luggage your amount will be only $1050.
2. Go to the page from the first link below and plague in a few blanks; it will calculate the varying home prices that you can afford (depending on the mortgage duration and type). The mortgage amount is the home price smaller amount your down payment.
3. Read the CNN article from the second link for more details and warning. Source(s): http://www.quickenloans.com/mortgage/hom…
http://money.cnn.com/2002/04/18/pf/yourh…
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Answers:
actually you hold a good fico score and you hold an average income, so definitely there will be like mad of good programs for you!
as to how much you may get, it depends on the equity your home own.
why, what state are you in?
How much home do you want. There are so many programs available that just more or less any want can be satisfied. Source(s): www.totaldebtsolutionsllc.com free evaluation form
650 is devout enough to get a mortgage. You can usually afford a home worth 3x your income. Say, contained by the $150k range. Call a mortgage broker; they will have tons of option for you.
Go to this link and click on the emblem at the top and fill out the requested info. You'll get quotes hindmost from at least three major lenders. Good luck!
http://loan.divinfo.com/
It depends on many things besides your credit score but within general:
1. Your total monthly mortgage/tax/insurance payment for the house must not exceed 1/3 (33%) of your monthly gross salary. Since your monthly gross pay is $45,000/12 = $3750/mo.; a third of that would be $ 1250. Some lenders use the 28% rule, not 33%; in that luggage your amount will be only $1050.
2. Go to the page from the first link below and plague in a few blanks; it will calculate the varying home prices that you can afford (depending on the mortgage duration and type). The mortgage amount is the home price smaller amount your down payment.
3. Read the CNN article from the second link for more details and warning. Source(s): http://www.quickenloans.com/mortgage/hom…
http://money.cnn.com/2002/04/18/pf/yourh…
Related Questions: