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re: Simple Question about being pre-approved for a mortgage
Posted on 1/6/13 at 7:39 am to LordSnow
Posted on 1/6/13 at 7:39 am to LordSnow
quote:
Now we plan on putting 50k or so down on the house. Couldnt we be looking @ 375k houses? ( I dont want a 375K house, but maybe just a touch over 325K )
As a rough estimate, you could finance 325k, so yes, if you are putting down 50k, you could look at something more expensive. But the thing you have to remember is that 325k is equal to a monthly note, which doesn't include escrows for taxes and insurance.
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