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re: USDA Loan - Business Loss reported on prior Tax Return. Help!

Posted on 4/7/16 at 8:35 am to
Posted by JamalSanders
On a boat
Member since Jul 2015
12135 posts
Posted on 4/7/16 at 8:35 am to
I'm not saying you are buying too much house but if your income were to drop $6k and you not be able to afford the house, you might be buying too much house.
Posted by sdedwar2
Member since Apr 2016
4 posts
Posted on 4/7/16 at 8:49 am to
Guys I thank you for the personal advice but not needed at this time. I can defenitely afford the house as my monthy mortgage payments with insurance included would be actually cheaper than apartments renting in my area. As I budget my monthly expenses each month, note I have never had a late payment ever, I'm frugal with my money, meaning I don't go out and buy clothes, I don't smoke drink, party, or take vacations. I'd rather have a house to live in and a car to drive. Being that I do not have a co borrower and it is entirely my own income, $6k which calculates to $500 a month is a lot of income. Subtract $500 from your monthly DTI and I'll probably say you can't afford your house either. I appreciate the comments. My Broker is working on this. I'll report back later. Thanks.
This post was edited on 4/7/16 at 8:51 am
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