Will I Be Able To Afford?
I'm a beginner looking to purchase a 165k property. I have a 724 credit score and at the most $2500 to put down. I currently make 45k/yr. Would I have a problem getting a decent first mortgage?
I'm a beginner looking to purchase a 165k property. I have a 724 credit score and at the most $2500 to put down. I currently make 45k/yr. Would I have a problem getting a decent first mortgage?
I think easily.... depending entirely on what other monthly debt you will have in addition to your mortgage, taxes, insurance etc.
Wouldn't it be easier if there was already one tenant in the duplex or 2 tenants in a triplex? Is it true that the rent those tenants pay, is added on to my monthly income when considering me for a mortgage?