Do I qualify for a mortgage?

A good rule of thumb is that the maximum cost of your home shouldn't be more than 2.5 or 3 times your total annual income. This means that if you want to buy a $ 500,000 home or qualify for a $ 500,000 mortgage, your minimum salary should

Can I buy a house making 30k?

How much do I need to make to buy a 200k house? How much income is required for a 200k mortgage? + A $ 200k mortgage with an interest rate of 4.5% over 30 years and a $ 10k down payment will require an annual income of $ 54,729 to

How much do I need to make to buy 200k house?

What mortgage can I afford with 70k? So if you make $ 70,000 a year, you should be able to spend at least $ 1692 a month - and up to $ 2391 a month - in the form of either rent or mortgage. Which mortgage can I afford for 70k? So if

What is a PMI?

PMI is designed to protect the lender in case you defaulted on your mortgage, which means you personally have no benefit from having to pay it. So putting down more than 20% allows you to avoid paying PMI, reducing your overall monthly

How do you qualify for a FHA loan?

What percentage of FHA is denied? Refusals were higher - nearly 14 percent - for government backed (FHA, VA, USDA) borrowers and lower - 10.8 percent - for traditional buyable mortgage applicants by investors Fannie Mae and Freddie

Can I use my VA loan with a 530 credit score?

What can I get with a 520 credit score? 520 Credit Score Loan & Credit Card Options Credit cards and auto loans offer the best chances of approval for someone with a credit score of 520. For example, people with a credit score