Help me determine how much house...

raisinitup · ‎03-06-2013

Ok, so here's the bottom line
Monthly pymts
375/car
25/credit card

My student loans are in ibr with a zero pymt for 12 months. If not in ibr payment would be 240.

Income = 43k
Down payment = 6500 in bank

Can I afford a house for 170k or would my DTI be too high ?

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JM-AM · ‎03-07-2013

Depends on taxes in your area

Good Luck
May all your dreams and wishes become a reality!

jzsnow · ‎03-07-2013

You will likely have a problem with an ibr payment of zero. They will likely use the standard payment amount for your dti.

MovingForward_2012 · ‎03-07-2013

A house for $170K is towards the upper end of affordability for your income. Whether or not it is doable will depend on your DTI, property taxes, HOA, downpayment, and homeowner's insurance. I know you have an estimate for DTI and available cash but do you have an estimate for the other factors I mentioned?

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