Posted on: 07th Nov, 2008 06:03 pm
What size mortgage can I get if I have good credit, 750+ and I make about 45k plus 8k bonus?
Hi jwojdylo!
Welcome to forums!
With the income and bonus as well as the credit score that you have stated, it seems that you can easily get a mortgage. The size of mortgage that you will get will depend upon various other factors and type of property that you will be buying. I would suggest you to first speak to a few lenders and check the different types of plans they are offering. You can then chose a plan which is affordable for you.
This community has a large number of lenders. You can even speak to lenders and seek a no obligation free mortgage consultation.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
With the income and bonus as well as the credit score that you have stated, it seems that you can easily get a mortgage. The size of mortgage that you will get will depend upon various other factors and type of property that you will be buying. I would suggest you to first speak to a few lenders and check the different types of plans they are offering. You can then chose a plan which is affordable for you.
This community has a large number of lenders. You can even speak to lenders and seek a no obligation free mortgage consultation.
Feel free to ask if you have further queries.
Sussane
I would love to help with your mortgage. Email me, and let's discuss!
MSmith@PrecisionFundingUSA.com
I am on line now!
MSmith@PrecisionFundingUSA.com
I am on line now!
There are definitely quite a few more considerations beyond the credit score and salary. The type of property, the type of ownership and your other debts will all have an effect.
The standard conventional guideline is 36% of your income for your house payment and other bills, and the FHA guidelines are 29% for your house payment and 41% for your house payment plus other debts. These can be exceeded through the use of automated underwriting, but with today's market you should try hard to keep your debt ratio lower rather than higher.
I am giving you the FHA guidelines instead of just the conventional guidelines even though your credit is excellent since downpayments can be lower for FHA loans.
The standard conventional guideline is 36% of your income for your house payment and other bills, and the FHA guidelines are 29% for your house payment and 41% for your house payment plus other debts. These can be exceeded through the use of automated underwriting, but with today's market you should try hard to keep your debt ratio lower rather than higher.
I am giving you the FHA guidelines instead of just the conventional guidelines even though your credit is excellent since downpayments can be lower for FHA loans.
