I’m obsessed with houses and I’m currently planning for my future.
Okay so my gross annual income will be calculated from January 1, 2013 to December 31, 2014, so that makes 2 years exactly. I researched this and found that this how most banks will look at it, am I correct?
I’m only 18 and will be 20 when applying for my mortgage, and I will be SINGLE.
My gross annual income is currently $ 45,000 between multiple jobs.
Also, I will have about $ 65,000 available for a downpayment.
When applying for a mortgage…I will have NO debt, no auto loan, no student loans.
I will have a 800 credit score or better. (currently it is about 750 but it is going up)
WITH THESE CIRCUMSTANCES…do you think I might be able to get 4 times my annual income? or should I plan on getting 3… I live in wisconsin if that helps
my monthly debts are currently $ 100 and I dont see that going up (car insurance)