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The amount of income can vary depending on the type of house a home buyer is in the market for. You can make a minimal amount and own a small home depending on the market. You would have to make a larger amount to afford a bigger home.
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∙ 9y ago
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How much can you borrow to buy a house?
Based on income & how many borrowers. You should qualify before starting shopping.
Can you still qualify to buy a house if you have low income?
Yes, possibly. You can buy a house for cash from savings or investment with no income at all, and then keep it as long as you can make the tax payments and other assessments. If your lack of income is "probably temporary" (like you're in prison for a short period, or "between jobs", or "in graduate school"), you may still qualify for a loan. If you cannot afford to pay the interest on a loan to purchase a house, then it is a really bad idea to consider buying a house. You will fail to make the payments and it will be taken away.
How much will your council house cost to buy?
If i`ve lived in a house for over 50 years how much would it be to buy my council house
How much income do you need to buy a house?
It depends on your recurring monthly debt (minimum monthly payments). This number divided by your gross monthly income give you your debt-to-income ratio. This ratio can be no higher that 57 (but in most instances 45) with the proposed new mortgage payment in order to qualify.
If Drew's monthly net income is 800 dollars what is the maximum he should use on debt payments?
$224 or 28% of your income here is a site that states this fact Source http://www.bankrate.com/finance/mortgages/how-much-house-can-you-buy--1.aspx
How much can you borrow to buy a house?
Based on income & how many borrowers. You should qualify before starting shopping.
How much do you need to make in order to buy a three hundred thousand dollar house?
its not how much you make its how much you save .
Can you still qualify to buy a house if you have low income?
Yes, possibly. You can buy a house for cash from savings or investment with no income at all, and then keep it as long as you can make the tax payments and other assessments. If your lack of income is "probably temporary" (like you're in prison for a short period, or "between jobs", or "in graduate school"), you may still qualify for a loan. If you cannot afford to pay the interest on a loan to purchase a house, then it is a really bad idea to consider buying a house. You will fail to make the payments and it will be taken away.
How much will your tax return be after you buy a house?
The tax you pay is based on your " Net relevant earnings ." In other words your gross income before any deductions. Buying a property has no correlation with your income tax.
Who helpes you buy a house?
A Realtor
If you make a salary of 47000 a year what are you paid an hour?
how much house can you buy on a 47,000 salary
How much does it cost to make a luxury doghouse?
As much as you want to spend. Why not just buy your neighbors house and move your dog in...
How much will your council house cost to buy?
If i`ve lived in a house for over 50 years how much would it be to buy my council house
Do income tax have to be paid to buy a house?
No but if you owe income tax and the income tax people claim that you owe them money they are in a position to sell the house you bought from under you to pay for the income tax you did not pay. other then that there are any number of charges levies and taxes associated with the purchase of a house. House buying is a real cash-cow for the government and the legal professionals.
Can i buy a house if i have associate's degree?
Your education doesn't determine home ownership. Your income is the primary factor.
How much income do you need to buy a house?
It depends on your recurring monthly debt (minimum monthly payments). This number divided by your gross monthly income give you your debt-to-income ratio. This ratio can be no higher that 57 (but in most instances 45) with the proposed new mortgage payment in order to qualify.
If Drew's monthly net income is 800 dollars what is the maximum he should use on debt payments?
$224 or 28% of your income here is a site that states this fact Source http://www.bankrate.com/finance/mortgages/how-much-house-can-you-buy--1.aspx
