My income only 65k before tax ,and my total debt is about $900.need to buy first time home buyer .
I used different mortgage calculator , and got different answer .
Hope someone can help .
^^^This number is different depending upon the program you select (FHA, VA, USDA, or conventional). Also, it is different for the following reasons:
The LO calculates a max monthly payment you can make according to the debt ratios allowed by the loan program. If you have HOA + High property taxes + High homeowners insurance, you reduce the amount available for your mortgage P&I. Initially the LO will use average figures but refine it with the specific selection of a particular property.
I just had conversations with broker and he said you will be qualify for 350k and Aldo government programs only help you small amount of %5 down payment or closing cost .
I really don't know what's going on why I am getting different answer ? He did math and said 350k and even more .
I don't know I have to ask some other brookers too .
mortgage calcuter should tell you only one number to everyone .
No, ^^^ that isn't correct. It is different for everyone because gross income is different, current debt load is different, down payment is different (min amount required is based on sales price - but you can put down more), taxes and insurance is different.
If you are going to a legitimate experienced, knowledgeable lender and he said $350k based on your financials (that s/he reviewed) then believe that broker.