If I make a $136,000 down payment Can I afford a $339,900 home If my monthly income is $3,000 ?

Other answer:

riley:
Since your income would allow you to only pay $1000 monthly on a home or less (you'd have to include home insurance and maintenance and closing costs and yearly taxes). But I'd say to you you'd be better off buying a bungalow with 2 bedrooms and 2 baths and so if times get tough, which they are going to, maybe you could rent out the other half of the house to family, parents, or friends for additional income to pay for the house. When the economy turns around you can then buy yourself another home and use the bungalow as a rental.
Steve D:
Assuming your take home monthly income is $3,000, I will assume you make $4,000 a month before taxes or $48,000 a year. That will qualify you for a $145,000 mortgage. With a $125,000 down payment (you need money for closing costs), you are looking at a $270,000 house max.
coraann:
No. Make a larger down payment. You also must have closing costs, legal fees,
inspection,insurance and utilities deposits in your account on closing day.
Barnes:
Only a loan company can make such an assessment. Or contact a mortgage broker for advice.
Wayne Z:
No.

That is not enough.

As stated before, at that income, you can only borrow about $100k.

babyboomer1001:
No. It would probably take you 20 years just to repay the interest.
Robt:
Ask ur parents how mortgage work in ur country..
NOT happening here.
Share

Leave a Reply

Your email address will not be published. Required fields are marked *