Conventional Mortgage- FHA

[Spencer Brett]

Hello,

Does anyone have any information on how mortgage amounts are determined? I have looked at some online calculators, and the mortgage amounts shown as available to me seem very low.

I am a w2 income earner with a 715 credit score and a 50k salary as an accountant. I expect to be at this income level for another year or two. I have no credit card debt, no car payment, but about 70,000 in student loans to date. I have been paying 1000 a month in rent in Dallas for 2 years, and would assume I could get approved for a mortgage/other costs up to this amount, assuming I have the required down payment/closing cost.

I just want to get some reasonable expectation of what I will be approved for at a bank, as I cannot get into a bank for another month or so. I am in the process of moving to Florida.

Hoping to purchase a multi-family in March of 2018.

Thanks,

Spencer