For someone earning $57K with a 3.5% downpayment using FHA or SONYMA, what would be the maximum loan amount?
My credit score is 620 and I have a student loan I pay $28 a month for. (the total is 4k)
I have no chance of buying a home do I? Most of the home range from 300-350K upstate.
Thanks for any assistance you can provide.
- Anonymous1 decade agoFavorite Answer
ballpark maximum is 2.5-3 times your annual salary,s o any house more than $160k is out of your range and with that credit score, your int rate is going to be high, making monthly payments even higher
- JudyLv 71 decade ago
Not at $300-350K, even if you had a good credit score.