How does this sound???

[Anonymous]

I was able to get preapproved via automated underwriting for 149,500 FHA.I decieded to ditch naca even though they sent me an approval for 111000. I think I knew more than my LO. Well anyway I payed off mycar about a month ago it was 409   a month, but is still showing unpaid on experian.  This is making my DTI 38% I did not know that you get approval that high.Well anyway  i locked in my interest rate at 5.75% paying one discount point ( this is less than naca right now)  the only thing that concerns me is tha my payment will be over a thousand dollars, 1075 to be exact, my rent is only 525 and me and my BF split this. Together we make around 85000 a year.Is this a resonable price and rate and payment.  I am so confused.

[Anonymous]

I dont see why you would'nt be able to afford the payments.  Congrats!!!!!!!!!!!!!!!!!!!!!!!

[Anonymous]

I think the only people who will know if you can afford the payment is you and your boyfriend. Just because you get approval for a particular mortgage doesn't mean you can afford it.

Sit down and work a budget out including everything you guys pay for, put into savings, and make sure you include for things you may or may not have to pay right now, such as utilities.

One thing you can do prior to when you have to pay the mortgage is set aside the extra money you will need for the payment and see if you can do this, or if you feel like you don't have enough money by the end of the month.

If you're able to set the money aside with no problem, then you're fine. But if you feel stressed, then it's too high.

[DallasLoanGuy]

Most people qualify for more than they are comfortable paying. Awesome rate and payment