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How much can i get approved for?

SOLVED
New Contributor

How much can i get approved for?

Hello everyone! quick question...i gross $2800 a month my only debts are 2 cc with min payments of $40 dollars a month...how much of a loan would FHA approve me for and whats the MAXIMUM monthly payment on the loan that FHA would think i can handle? thank you again for ur insight and have a blessed day!Smiley Happy
Message 1 of 4
3 REPLIES
Frequent Contributor

Re: How much can i get approved for?

I calculate it to be about 875 a month and that would include principal, interest, taxes, insurance and PMI. What kind of a mortgage that would get you would depend on the tax rate in your area.
Message 2 of 4
Regular Contributor

Re: How much can i get approved for?

http://cgi.money.cnn.com/tools/houseafford/houseafford.html

 

 

Try this link...It was helpful for me

Message 3 of 4
New Contributor

Re: How much can i get approved for?

Thank you for all your help and insight!Smiley Happy
Message 4 of 4