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Updated almost 10 years ago on . Most recent reply

User Stats

452
Posts
10
Votes
Michael Dunn
  • Olive Branch, MS
10
Votes |
452
Posts

" Knowing " how much I qualify for .....

Michael Dunn
  • Olive Branch, MS
Posted

Good afternoon,

I am trying to breakdown the numbers and figure what the maximum amount of house, that I will be able to afford / qualify for ..... based on my 2 years of taxes, credit score , and using a FHA loan

Here are my stats.....

1. Credit Score of 690+

2. assuming an Interest rate of 4.3%

3. I have $160 in monthly bills ( all credit cards ) and to use this information with the FHA's DTI maximums

4. Gross " Monthly " taxes via my last 2 years taxes = $1,700 a month

So given the above information..... can I assume that I will qualify for a.... $75,000 house ?

$85,000 ?  $95,000 ?

Thanks for any and all help and input

Much appreciated

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