I want to buy a house and im Desperate mortgage?

My bf and I want to buy a house we both really love the HOUSE which cost $500,000

My bf keep on telling me i can't borrow that much of money

I made 58,000/yr and he made 50,000/yr we thinking to put 20% down

my question is can we combine our income together and get a loan??? and how much we can borrow????

Becuase i know if i borrow a mortgage on my own i can't borrow that much.

7 Answers

  • 1 decade ago
    Favorite Answer

    No, you two can not borrow that much money. 250 tops, and that is combined.

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  • 1 decade ago

    I suggest you dont buy a house at all no matter how much you want it until you have saved enough money and you both have a very good, stable income.

    If you do get the loan,which I think you can, you wont really get the time to enjoy the house because not only will you be paying the mortgage but you will also be paying water, electricity and heating bills. Its gonna be a lot of money spending and you will regret buying the house

    I know it sounds so negative and I am sorry for that but I just dont think you should be debt ridden when you can just enjoy life with what you have

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  • 1 decade ago

    What is "desperate?" Your attempt to tie him to you financially since he won't marry you?

    If you insist on buying a house, buy one you can afford on your salary alone and then make him pay half the expenses. Get the mortgage and deed in your name only.

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  • 1 decade ago

    You may qualify with both incomes. If you are putting 100k down the loan would be $400k. I wouldn't really advise it though if you aren't married. So many couples end up breaking up & losing the house since the income is split in half.

    Source(s): 23 years mortgage business.
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  • Anonymous
    1 decade ago

    you are dreaming....

    20% of 500,000 is your down payment, so you know this is $100,000. Your monthly mortgage will be $~3200. You don't qualify.

    1) don't buy or attempt to buy something you can't afford

    2) don't buy real estate with someone to whom you are not married

    3) HAve a significant down payment

    Source(s): www.bankrate.com
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  • Pengy
    Lv 7
    1 decade ago

    Depending on your credit and debts you can get about half of the house you are looking for.

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  • 1 decade ago

    Recenlty my friend got home loan of 500000$ for 25 years on 1.5% which should be paid annually my friend doesnt have good credit his credit score is below 500 but still he got loan.

    I asked him how you got ?

    He told me while i was searching on internet for Home loan with Bad credit he found a site which contains about 8 links for bad credit so i checked all of them one by one .

    go to


    > Home loan

    Note each link contain different interest rates and repayment period.

    Take Care


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