Buying a Home help?

View your credit file based on any of the UK credit reference agencies, or all three at once
LifeLock is the only Identity Theft Prevention Solution backed by a one-million dollar guarantee!Click here to get a 10% discount.

LifeLock Identity Theft Prevention - Save 10%

My gross income is around$45.000 a year and Some money I make thru cash as well. I'm currently renting and have a overall credit score of higher than 730. I'm in NY and the house don't come cheap. Would there be a possibility for me to buy a house with my income, I've recently gotten out of college and have about a 7k in loans. Would banks be willing to lend me $400 or 500k to buy a house. Anyone help or suggestions would be greatly appreciated.

Buying a Home help?

How much do you have saved for the down? 15-20% and you should be able to get a loan with a very nice interest rate... If you're TRYING to get a 100% loan.. good luck! IF you can find one, they will bend you over on interest...

Buying a Home help?

It will be difficult to get a loan of that amount with your income. Lenders look at your debt to income ratio. Put yourself in a lenders shoes. Would you give yourself that kind of money? What I mean is, a lender wants to see that you can make the payment with no problem. You would still have money left over every month and not struggle.

Buying a Home help?

Topic