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Updated almost 11 years ago on . Most recent reply

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452
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10
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Michael Dunn
  • Olive Branch, MS
10
Votes |
452
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Most Likely to Qualify for? Help please

Michael Dunn
  • Olive Branch, MS
Posted

I am currently waiting to here back from my Lender / find out what I will be able to qualify for , but while waiting, I wanted to ask fellow B.P. members, what I'm likely to be approved for, in terms of Loan amount and what that will translate into my monthly PITI .

Here's a brief rundown of my current finances...... Credit score is over 680 , The only monthly debt that I have is $200 in monthly debts ( credit cards ) , based on my 2012 and 2013 taxes my Gross income is $1,375

Given this, and getting approved for the highest DTI that FHA allows, plus the calculations regarding Residual Income that a Lender looks at, what amount am I likely to get approved for and what would my monthly house note be ?

As always, I really appreciate the help and insight from everyone on the site, Thanks much

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