So here is where I stand/can afford, Help lease.....

[Michael Dunn]

So I finally got my taxes back in , and I know my numbers , via what I can afford, and it's looking a bit grim ( grim in the sense that I can afford a lot less of a house than I initially thought I could ).

Here's a quick breakdown:

based on my last 2 years tax returns and dividing that by 24 months, my monthly income comes out to $1,350.

Using a DTI of 47% and of 50% , and my monthly debts being $200 a month , this only leaves me with being able to afford a Monthly note of $425 - $450

Now, here's the dilemma ...... I owe $2300 in taxes this year ( so that leaves me with $2300 less that I could use to pay down my monthly debts, thus increasing the amount of house I could qualify for , and also it now leaves me with less that I could use for a Down Payment )

Now I still have $2000 saved up, not counting the $2300 I'll have to pay in taxes. So what do fellow BP members suggest I do please?

I could use that $200 I have saved up and pay down my debts, but then I won't have anything saved up for a down payment, and if this is the case, my only 2 options are........1. go with a VA loan, which would allow me to get into a house with zero down payment OR 2. I'd have to go with the THDA down payment assistance program ( which I really don't want to do ) and yes, number 3. Just wait a bit longer, and save up some more money ( which I don't want to do ) lol

Sorry for the Long post, just needing some advice from those that may have an answer/ solutiuon - Thanks as always - Michael