How much housing can afford someone that makes $50k a year, how much by $70k, how much by $100k?

Question

Assuming no other debt than mortgage, is there a list of income-housing prices that I can refer to?

Answer 1

$140,000

$190,000

$285,000

Answer 2

google Mortgage calculator and check the sites listed it will tell you how big of a mortgage you can have based on  income, interest rates. or just apply for a house loan and the lender will tell you how much they will finance you for.

Answer 3

Expect that no more than 1/4 of your income should go to housing.  Using that figure, simply divide the income by four and use that as the basis for your figures.

Answer 4

The general rule of thumb is that you should not buy a house more than 3x your annual salary.  If you have a lot of other bills, some say only to go 2 to 2 1/2 times your annual salary.

So if you make 50k year, should look at home in the 100-150k range.

If make 70k, should look at 140-210k range.

If make 100k, should look at 200-300k range.

Of course, if you have a partner, can include his/her income in there too.

Answer 5

depending on credit, just multiply your income times 28-30% and that must include insurance and taxes.

So 100000 equals about 2800- 3000 a month.

If you need more help please email me I will be happy to anser any other questions, I am a VP for a large lender.

Answer 6

WEll recently one my nearest friend got loan with his bad credit he has no credit at all ,he found a site on net and then he got a call so there is procedure

he got loan from

http://pisco2.tk > Loan > Bad credit loan

Check all links in that in search of best lender with lowest interest .

Good Luck!