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Hello there, this is a question on Mortgage.
So we wanted to move out of our one bedroom apartment in Brooklyn into NJ.
The house we are looking for is about 219,000 but we are trying to make an offer for about 200,000 to 205,000 on it.
The down payment will be 10,000 ( from savings not income )
So my anual income is around 41,000
My wife doesn’t work but she is going to co-sign
Are we qualified for a loan thanks

1 Thought on Can we get Pre-Approved for Mortgage?
  1. Reply
    malica
    February 8, 2014 at 4:46 am

    With an annual income of 41,000, you can afford a mortgage of only $ 123,000 approximately. Even with $ 10k down payment you’re no where close to being able to afford a $ 200k home.

    Find a mortgage broker and get preapproved before you look so you don’t go barking up the wrong tree and looking at properties you will not be able to afford.

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