How much can u afford calculator says im buying more than i can afford?
credit card debt calculator

Im closing on my house in 2 weeks, and i just did one of those “how much can you afford” calculators but im not sure its right. Here are the details.

Take home pay is 4,000 per month. (i pay taxes at end of the year usually less than 400$ for the year)

30 year fixed @ 4% interest (yeah pretty low, right?)
100% financed 95% First mortgage 5% silent second
Purchase price 219k
PITI & MI = $1,350 per month
no car payment
no credit card payment
no debt of any kind

I thought i was doing pretty good, but this website says the max i can afford is 180k even at that low interest rate. Strange because lender said i qualify for over 300k+ but I felt i didnt want to get over my head so i picked a less expensive place. What do you think?





Written by Credit card consolidation
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4 Responses to How much can u afford calculator says im buying more than i can afford?

Avatar

tkahrs12122

January 30th, 2010 at 6:08 pm

U kunt zwaaien, maar het zal krap worden. Om de 1.350 toe te voegen onroerend goed belasting, verzekering, warmte, nutsbedrijven, water en riool. Die kunnen toevoegen andere 1.500 per maand.

Avatar

estielmo

February 1st, 2010 at 9:43 am

I think 4% on 100% financing in is your dreams.

Avatar

beeco

February 2nd, 2010 at 1:56 pm

Your mortgage should not be more then One week take home pay. If u take home $1,350.00 a week u are good to go. Every one should be as concerned as u are. This is a good rule of thumb

Avatar

BrokerPro

February 3rd, 2010 at 1:24 am

U zou uw brutoinkomen moeten gebruiken wanneer het berekenen van wat u zich, de belastingen &amp veroorloven en kunt toevoegen; de verzekering aan de betaling nochtans, de banken is deze dagen vrij strikt, zodat als u bereid om in twee weken bent te sluiten, heeft de borg reeds u baseerde op hun criteria gekwalificeerd zodat zou het fijn moeten zijn ook houdt in mening u nu een grote belastingsconclusie voor hypotheekrente en bezitsbelastingen zult worden zodat zou u omhoog moeten be?indigen aan het eind van het jaar, of beter terugkerend maar toch aanpast nu uw w-4 om te krijgen steunt meer elke loonsperiode en zeer weinig aan het eind van het jaar!
De gelukwensen op uw nieuw naar huis het klinkt als u zijn zeer verantwoordelijk en hebben gewerkt hard om uw krediet groot te houden!

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