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May 22, 2012
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Purchase 250k home on 18k income but?
The cost of this mortgage is 250000. An annual income of 18000. Yeah, obviously no one can get a loan for that amount considering the low income. What if 200000 is put down as down-payment and a balance of 50000. Can or will a lender loan 50000 to complete the transaction? with an excellent credit score of 785. No other debt other then 1 $500 credit card debt. Will any lender approve this considering the income? According to mortgage calculators out there, 18000 annual income should be able to loan 50000plus. Your take
The house is located in Shelby County, Alabama. Chelsea Park
The house is located in Shelby County, Alabama. Chelsea Park
Written by Credit card consolidation
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3 Responses to Purchase 250k home on 18k income but?
pbuilder_novis
January 13th, 2010 at 6:00 pm
Met die hoeveelheid aanbetaling bent u praktisch gewaarborgd een lening.
?AstrologerJuliAnne?
January 13th, 2010 at 6:44 pm
Sounds like a win win situation for the bank, as they would have close to 75% down. I don’t see with the credit score and debt ratio why it wouldn’t be doable. I say go for it. You would have much more to lose than the bank would if you defaulted! LOL
Glenn S
January 14th, 2010 at 4:02 am
Don' t denkt u zult kwalificeren. I' m voorstelt dat dat uw principe en rentebetaling @ 5.5% 30 jaar $284 per maand zal zijn. Uw verzekering ongeveer $60 per maand, en uw belastingen overal van $260-$300 per maand afhankelijk van uw lokaal belastingstarief. Ik stelde een tarief van 1.25% tot 1.40% van de verkoopprijs voor.
Dat komt aan $604-$644. Uw vooreindverhouding is 40% tot 43%, manier boven de MAC goedgekeurde richtlijnen Fannie Mae en Freddie.
Als het belastingstarief lager is in uw uw staat toen binnen zou kunnen samendrukking kunnen. Als u in Texas of in een staat leeft met waar het tarief van de bezitsbelasting meer daar in 4%-5% waaier wouldn' is; t is om het even welke kans.