How big a mortgage loan could I take?
Our gross monthly income is around $2534.40. We have no debt expenses and our annual property tax is $60. I hold no credit and my mom has low credit...not bad, freshly low. We are going to cosign with my grandmother who has outstanding credit. Now near a rate of 4.63% (guess) & 30 yrs fixed & no downpayment, what size loan do you think we could get?
"> Without a down stipend, you will not get a mortgage.
You need to squirrel away at least 3.5% to put down on a home for an FHA loan, and then another 3% or more for closing costs. The days of 100% financing are history unless you are a veteran.
How much of a down compensation do you have.
Based on your information maybe the lender will allow 50k
Related Questions:
When an online mortgage lender say you are preapproved for a mortgage loan. Does that scrounging you enjoy a loan?
How much does a mortgage broker get surrounded by concede spread premium on an FHA mortgage loan?
What does "points be set to when you enjoy a mortgage loan?
Where and how can a small private investor buy and invest within assets such as loans or mortgages?
Will Congress bail out the Mortgage Loan Business even tho 69% of the public is against it...?
"> Without a down stipend, you will not get a mortgage.
You need to squirrel away at least 3.5% to put down on a home for an FHA loan, and then another 3% or more for closing costs. The days of 100% financing are history unless you are a veteran.
How much of a down compensation do you have.
Based on your information maybe the lender will allow 50k
Related Questions: