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Posted on 6/3/15 at 3:03 pm to LSUtoOmaha
that is the % that my mortgage lender was willing to lend me back in 2010
maybe it was my high credit score and the low interest rates
maybe it was my high credit score and the low interest rates
Posted on 6/3/15 at 3:16 pm to LSUtoOmaha
quote:
Wait, so you are saying if someone makes 100k a year, a bank will pre-approve them for a house that costs 400k?
Maybe, depends on credit and downpayment.
but the monthly payment on 400k in debt falls within the correct ratios for 100k in income, assuming minimal side debt.
quote:
Consider going significantly less. You don't want to be house poor.
This. Paying 28% hurts if you want to have any semblance of a life.
This post was edited on 6/3/15 at 3:20 pm
Posted on 6/3/15 at 10:53 pm to LSUtoOmaha
quote:I find that low...we were preapproved for a house 5 times larger than our combined income which is absolutely absurd. No wonder people go into major debt
Wait, so you are saying if someone makes 100k a year, a bank will pre-approve them for a house that costs 400k?
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