A dream deferred....

[Anonymous]

Will I need to defer my home buying dream....???? I mk 28,275 per year and my son receives abt $500 a month for ssi. My carnote is 463, cc is 70, another cc is 25 (I may b able to pay it off fully this month), my student loans are 105 but are currently n deferrment... Ive been talking to capital one and their max ratio is 45%. I hv abt 20k saved for a down payment. Property taxes in my area are abt 3500... what is the max mortgage amnt I could get approved for? thanx

[incognitony]

That only leaves 650 a monthfor a house by my calculations , which is probably around a 100k home more or less with your down payment. That car payment is really hurting your debt ratio.  If you have 20k I would look at paying down/off the ccs to borrow a little more.

[Anonymous]

Will do... My target purchase price is 85k

[incognitony]

My wife was approved for 90k and the payments were  going to be about 675 with only 3.5% (3200) down. Of course it depends on property tax rates and yours  sound higher than ours are here.