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Im not expecting much, I make about 25k a year or $ 13/ hr. But I see people with similar income buying houses left & right…
I’ll also add, my credit is 705.

1 Thought on In today’s market, how much will I be pre-qualified for when buying a house?
  1. Reply
    mortgagequeen
    July 26, 2011 at 1:36 am

    Depending on property taxes in your area, the program you would qualify for, and your other debt – you could get approved for a payment up to around 1000/month. This could equate to a house around 150,000 depending on your area.
    The formula is monthly income (assuming you work 40 hours/week, your monthly income is 2253) multiplied by .4499 = 1013 minus all other monthly debts (car payment, credit cards, student loans) = maximum housing payment.
    Feel free to message me for a full, accurate preapproval based on your monthly debts and your location.

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