Posted on: 05th Oct, 2006 08:50 am
I was hoping to get a rough estimate of the maximum loan amount I would qualify for. I understand all about standard DTI, but I was looking for a best-case-scenario max value.
Here's my background:
State: NJ
Monthly gross income: $8,750
Monthly debt: $230 installment loan
Credit score: 760
Cash: Enough for closing costs and few months reserve (i.e., zero down payment).
Desired Mortgage: 80/20
Minimum stay: 5-7 years
Here's my background:
State: NJ
Monthly gross income: $8,750
Monthly debt: $230 installment loan
Credit score: 760
Cash: Enough for closing costs and few months reserve (i.e., zero down payment).
Desired Mortgage: 80/20
Minimum stay: 5-7 years