Anonymous
08/06/2016 17:27
Subject: If you make $130 what amount of mortgage were you approved for?
We had a HHI of about $180k when we were looking for a mortgage, but only $120k of it was considered by the bank (I'd gone from a full time job to being a contractor - and then actually since then the place where I was contracting went out of business, so yay fucking me.)
Anyway I digress. We got preapproved for $400k, I think. Ended up spending $330k for the house plus $38k on renovations, with $40k down. G_d willing, we'll be able to cover that on the one salary the bank was actually looking at.
Anyway I digress. We got preapproved for $400k, I think. Ended up spending $330k for the house plus $38k on renovations, with $40k down. G_d willing, we'll be able to cover that on the one salary the bank was actually looking at.
Anonymous
08/06/2016 17:25
Subject: If you make $130 what amount of mortgage were you approved for?
Anonymous wrote:Approval for a mortgage is no indication of what you can pay.
$600k mortgage on $130k is batshit crazy. Hell, a $400k mortgage on $130k is crazy.
I agree. I bought when making about 130 (single woman, was 27) with20% down. I ended up buying a 300k house (not in DC). Was very comfortable.cim very financially conservative!
Anonymous
08/06/2016 16:35
Subject: If you make $130 what amount of mortgage were you approved for?
Anonymous wrote:Approval for a mortgage is no indication of what you can pay.
$600k mortgage on $130k is batshit crazy. Hell, a $400k mortgage on $130k is crazy.
The first amount is crazy. The second is a stretch, but not crazy necessarily.