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You need a lender, not yahoo answers! All you will get here besides a kick in the butt for being anal, is solicitations for your business. Use the professionals to answer this question, they are the only ones who can.

by Alterfemego

5 months ago

Asker's Rating: 

The numbers look good to buy but your credit will need to be considered as well. Talk to a mortgage lender or go to www ... There are some resources to get you started no matter where you are located. Good luck!

by Roz- 5 months ago

Home buying has always been a tedious process. The home buying journey is fraught with winding turns and crossroads, making buying a home complex and difficult. The complexities of the real estate and mortgage market are not easy to decipher. So, the more prepared you are before begin home shopping, the easier it will be Herein, I have assembled a top ten list for home buyers. This list is good preparation for homebuyers who are setting out on their home buying journey.

by Savannah- 5 months ago

First, putting 27% down is good, and I am assuming you have good credit. In general, a lender will look for your monthly house payment (including tax and insurance) to be less than 30% of your gross monthly income ($480 in your case, assuming the $1,600 is before taxes). A lender will want all of your contractual debt (mortgage, car loans, credit cards) to be less than about 36% of your gross monthly income ($576). Assuming the real estate taxes are 2% of the value of the property (and I have no idea where the property is or if that's correct) that would be $250 / month. Insurance might be another $50-$100 per month (another guess). If you had no other debt the lender might let you borrow up to 36% of your income (including tax and insurance) or a loan payment of $276 (576-250-50=276). Assuming a 30 year fixed rate loan at 4.75% this would allow you to borrow about $53,000.

by David W- 5 months ago

Good day, I am Mr. Donald George Managing Director of Donald Micro Finance Inc. My company is a well recognized Company with Government Approve certificate. We offer loan to interested individuals and company who are in need of financial help or assistant with a very low percent interest rate. My company grants loan to individual/company from the range of $2,000 USD to $5,000,000 USD. My company only give out loan to trust worthy clients who will be able to pay back the loan when due for repayment. Any interested person who are in financial difficulty and need a loan should please contact us through email: donald_microfinance@yahoo.com with the following details below: Full Name: Amount Needed: Country: Duration/Period: Mobile Number: Age: Sex: Purpose for loan: NOTE: Loan is given to clients who are trust worthy that will be able to pay back the loan for security reasons, You can write to us with the email above, Mr. Donald George,

by Mr. Donald George Company- 5 months ago