Buying a New House?

Question

my boyfriend and i are planning buying a house early next year.

my income is 23,000 a year (UK POUNDS) and my boyfriends is 24,000 a year. what kind of priced house could we go for ?

Answer 1

Rule of thumb:  your housing costs shouldn't exceed 25% of income

can figure it monthly payments, annual payments

house price shouldn't be more than 4 times your income

Answer 2

I suggest that you go to your local lending institution and discuss this with a loan officer.  He or she will will ask you lots of questions and then will be able to tell you what you can afford to buy.

Answer 3

try to stay around 28/36 that is your debt to income  ration please speak to a mortgage spechilist at a major bank like chase, wamu or cit bank

Good Luck