What can I qualify for?

[cutekidsinc]

Hi, I am still working on my FICO score (currently it's a 610 EQ), but I am wondering.,,, Assuming I get to a 640 median, approx. what loan amount could I qualify for with an annual income of 52,000 including child support and alimony (I only work part time as of now). I have no debt. I can put down a large down payment. 

Thanks,

Joanne

[Darrell82]

Annual income is just one of many factors that determine how much of a mortgage you can qualify for. However, a better question I think is "How much are you comfortable paying each month?" There can definitely be a disconnect between those two. Financial advisors often recommend that you choose a team of professionals who work for you when it's time to buy a home starting with your mortgage professional. An experienced mortgage banker will review your income, assets, credit, work history and your goals to select the mortgage program that best suits your needs

[cutekidsinc]

I know many things factor in. I am just looking for an estimate. I am not quite ready for the loan officer yet. I just pulled my other two FICO scores and they are TU 646 and EX 629. Still have a couple of disputes and have a plan for Installment loans to increase score. I would just like to know if I am looking at around 100K or maybe 150K. Trying to put a plan into action.

[alyssamarie]

try this and see if it helps http://www.bankrate.com/calculators/mortgages/new-house-calculator.aspx

you should be able to google to get a basic idea of the interest rate you can expect based on your credit, and you can check something like zillow or just google it again to find an estimate of taxes and insurance! 

[cutekidsinc]

Thank you!