valcinn asked:
renting the home and paying the whole mortgage 1078 a month and now want to purchase the home.. we have no dept he has student loans 18k-20k but its deferred. i just dont want to rent anymore i would rather own being that we pay the whole mortgage anyway
TYRONE
renting the home and paying the whole mortgage 1078 a month and now want to purchase the home.. we have no dept he has student loans 18k-20k but its deferred. i just dont want to rent anymore i would rather own being that we pay the whole mortgage anyway
TYRONE
HARRIS
yes, there should be no problems with that. But let a broker or a bank look at the WHOLE situation first!
Comment by healthspot_2000 — July 30, 2009 @ 12:56 am
TOM
yes, private loan off
Comment by John David G — July 31, 2009 @ 4:05 am
MOISES
A lot of it is based on your debt to income ratio. when they say debt it is usually any car payments, monthly credit card bills and so forth. Lenders don’t like to see anything above 35%-42%. That means 35% to 42% of your total income is going towards debts excluding utilities, food, and clothing expenses. With an annual income of $53k it should be fine, the monthly payment shouldn’t be over $850 with an annual interest rate of 6.5% at a 30yr fixed, hope this helps!
Comment by sctajock — July 31, 2009 @ 8:36 am