Asked By: Leonars Hayes Date: created: Sep 30 2020

How much can I borrow if I earn $50000

Answered By: Hayden Simmons Date: created: Oct 03 2020

between $200,000 and $350,000On a $50,000 salary (before tax), you can borrow between $200,000 and $350,000 for the purpose of purchasing a property to live in to be repaid over a 30 years loan term..

Asked By: Hayden Scott Date: created: Apr 27 2021

How much do I need to make to afford a 250k house

Answered By: Brian Edwards Date: created: Apr 28 2021

How much do you need to make to be able to afford a house that costs $250,000? To afford a house that costs $250,000 with a down payment of $50,000, you’d need to earn $37,303 per year before tax. The monthly mortgage payment would be $870. Salary needed for 250,000 dollar mortgage.

Asked By: Henry Cooper Date: created: Aug 19 2021

How much do I need to earn to borrow 500k

Answered By: Matthew Cooper Date: created: Aug 19 2021

Gill McLean: An applicant who is single, with no debts and no dependent children would need to earn approximately $87,000 per annum to qualify for a loan of this amount. The deposit required on a loan amount of $500,000 would be approximately $52,000 if a client were purchasing a property to the value of $530,000.

Asked By: Charles Clark Date: created: Oct 18 2020

Can I buy a house making 40k a year

Answered By: William Miller Date: created: Oct 18 2020

Yes, you can! Your mortgage payment including taxes and insurance will be around $1,178.78. 81 (4.625% rate due to low fico score and low downpayment). Based on the information you provided, your Debt-to-income ratio is around 40% which makes you a qualified buyer.

Asked By: Logan White Date: created: Sep 12 2021

How much income is needed for a 300k mortgage

Answered By: Anthony Ross Date: created: Sep 14 2021

What income is needed for a 300k mortgage? A $300k mortgage with a 4.5% interest rate over 30 years and a $10k down-payment will require an annual income of $74,581 to qualify for the loan.

Asked By: Evan Turner Date: created: Nov 15 2020

How much is a 250k mortgage per month

Answered By: Ashton Patterson Date: created: Nov 18 2020

At a 4% fixed interest rate, your monthly mortgage payment on a 30-year mortgage might total $1,193.54 a month, while a 15-year might cost $1,849.22 a month.

Asked By: Stanley Williams Date: created: May 04 2021

Can you get a mortgage for 50K

Answered By: Samuel Hall Date: created: May 05 2021

Getting a mortgage loan for less than $50,000 has become almost impossible, she explains. From 2004 to 2011, only 3-4 percent of mortgages were for less than $50,000, and the number is even lower for 2014. But many towns, a substantial amount of homes cost $50,000 or less.

Asked By: Xavier Hernandez Date: created: Apr 04 2021

Can I buy a house if I only make 50K a year

Answered By: Ian Kelly Date: created: Apr 05 2021

It’s definitely possible to buy a house on $50K a year. For many, low-down-payment loans and down payment assistance programs are making home ownership more accessible than ever. … The amount you can afford doesn’t just depend on your salary, but on your mortgage rate, down payment, and more.

Asked By: Wyatt Brooks Date: created: Sep 06 2021

What mortgage can I afford on 40k

Answered By: Dominic Hayes Date: created: Sep 08 2021

Take a homebuyer who makes $40,000 a year. The maximum amount for monthly mortgage-related payments at 28% of gross income is $933. ($40,000 times 0.28 equals $11,200, and $11,200 divided by 12 months equals $933.33.)

Asked By: Cody Stewart Date: created: Jun 15 2021

How much mortgage can I get if I earn 30000 a year

Answered By: George Anderson Date: created: Jun 18 2021

If you were to use the 28% rule, you could afford a monthly mortgage payment of $700 a month on a yearly income of $30,000. Another guideline to follow is your home should cost no more than 2.5 to 3 times your yearly salary, which means if you make $30,000 a year, your maximum budget should be $90,000.

Asked By: Nicholas Watson Date: created: Dec 12 2021

How much deposit do I need to buy a house 2020

Answered By: Connor Hernandez Date: created: Dec 14 2021

Before looking at properties, you need to save for a deposit. Generally, you need to try to save at least 5% to 20% of the cost of the home you would like.

Asked By: Daniel Bell Date: created: May 23 2021

How much income do you need to buy a $500000 house

Answered By: Dominic Hughes Date: created: May 26 2021

How much do you need to make to be able to afford a house that costs $500,000? To afford a house that costs $500,000 with a down payment of $100,000, you’d need to earn $74,607 per year before tax. The monthly mortgage payment would be $1,741. Salary needed for 500,000 dollar mortgage.

Asked By: Gabriel Sanders Date: created: Feb 03 2022

How much income do I need for a 700k mortgage

Answered By: James Barnes Date: created: Feb 04 2022

$215,337 a yearHow Much Income Do I Need for a 700k Mortgage? You need to make $215,337 a year to afford a 700k mortgage. We base the income you need on a 700k mortgage on a payment that is 24% of your monthly income. In your case, your monthly income should be about $17,945.

Asked By: Clifford Allen Date: created: Mar 28 2021

What happens if I pay an extra $100 a month on my mortgage

Answered By: Antonio Taylor Date: created: Mar 31 2021

Adding Extra Each Month Just paying an additional $100 per month towards the principal of the mortgage reduces the number of months of the payments. A 30 year mortgage (360 months) can be reduced to about 24 years (279 months) – this represents a savings of 6 years!

Asked By: Caleb Long Date: created: Jun 15 2021

How many times your salary can you borrow for a mortgage 2019

Answered By: Philip Cox Date: created: Jun 17 2021

Now, when you apply for a mortgage, the lender will cap the loan-to-income ratio at four-and-a-half times your income. Use our Mortgage calculator, to help you work out how much your monthly payments would be if interest rates rose in the future.

Asked By: Ashton Lopez Date: created: Oct 29 2021

How much do you have to make a year to afford a $600000 house

Answered By: Christopher Adams Date: created: Oct 31 2021

How much do you need to make to be able to afford a house that costs $600,000? To afford a house that costs $600,000 with a down payment of $120,000, you’d need to earn $89,528 per year before tax. The monthly mortgage payment would be $2,089.

Asked By: Douglas Young Date: created: Mar 21 2021

Can I buy a house with 20k income

Answered By: Adam Sanchez Date: created: Mar 22 2021

If you have enough for a 3% down payment and have $300 in other debt payments, your $20,000 annual income (about $1,700 a month) would qualify you for a home of about $72,000. With 10% down, it would go to $82,000. If you have no other debt and a 10% down payment, you could qualify for a purchase of about $137,000.

Asked By: William Alexander Date: created: Aug 07 2021

What house can I afford on 50k a year

Answered By: Christopher Edwards Date: created: Aug 10 2021

Conservatively, your monthly housing costs should total 28% or less of your total gross income. By this measure, a single adult with a $50,000 annual salary, or $4,167 in gross pay per month, can pay housing costs of up to $1,167 per month.

Asked By: Donald Cook Date: created: Sep 05 2021

What mortgage can I afford on 70k

Answered By: Malcolm Washington Date: created: Sep 05 2021

According to Brown, you should spend between 28% to 36% of your take-home income on your housing payment. If you make $70,000 a year, your monthly take-home pay, including tax deductions, will be approximately $4,328.

Asked By: Oswald Rodriguez Date: created: Jan 29 2022

What’s the monthly payment on a 50000 mortgage

Answered By: Nicholas Scott Date: created: Jan 29 2022

How much would the mortgage payment be on a $50K house? Assuming you have a 20% down payment ($10,000), your total mortgage on a $50,000 home would be $40,000. For a 30-year fixed mortgage with a 3.5% interest rate, you would be looking at a $180 monthly payment.

Asked By: Diego Henderson Date: created: Nov 08 2020

How much do I need to earn for a 350000 mortgage

Answered By: Ashton Long Date: created: Nov 11 2020

Most cap the amount you can borrow at 4x – 4.5x your annual income. For a £350,000 mortgage, this would mean that you would need to be earning a minimum of £87,500 – £77,778 a year. If you’re applying for a joint mortgage, this will be the sum of your combined incomes.

Related Question Answers

Alan Diaz

Professional

Quick Answer: Is Discover Card Good For Credit?

There aren't any Discover cards that flat-out require excellent credit, currently.But we recommend a score of at least 700, which is toward the top of the good range, for the cards that require good credit for approval.So most Discover cards may be a tough get for the average person, who has a credit score of 669. Is Discover card good for building credit? Then use your credit card, earn Cash Back Bonus on every purchase and pay on time each month to help build your credit history. Apply today and enjoy your Discover it® Secured Credit Card. 1. Discover reports your credit history to the three major credit bureaus so it can help build your credit if used responsibly. Is Discover card for bad credit? The best Discover card for bad credit is definitely the Discover it Secured Credit Card. In fact, it's really the only Discover card that you…

Kyle Washington

Professional

Quick Answer: How Do Large Cruise Ships Stay Upright?

How deep in the water does a cruise ship sit? 25 to 50 feet deepThe depth of water that a cruise ship will need to dock in will need to exceed 25 to 50 feet deep.This takes into account the average draft of a cruise ship being 25 to 50 feet, which is the depth of water from the waterline to the bottom of the hull.. Could a cruise ship survive a hurricane? Put simply, the main reason that cruise ships do not capsize in hurricanes is that they are not placed in harm's way. ... Carnival, MSC Cruises, Celebrity Cruises and Disney Cruise Line all re-routed ships out of her path. The best strategy for surviving a hurricane is not to face it in the first place. Where are the roughest seas? The South China Sea and East Indies, eastern Mediterranean, Black Sea, North Sea, and British Isles are…

Elijah Barnes

Professional

Quick Answer: How Long Does It Take To Get Discover Card?

How long does it take to get a credit card when you're instantly approved?If you are approved, the issuer typically delivers the card in 7-10 business days. How long does it take to receive a Discover credit card? New Discover credit cards are always sent via priority mail, meaning that it would take 3 to 5 days to get your hands on a new card. That's free and it's way better than what other issuers offer - up to 10 business days by default. Replacement cards are expedited and will arrive within 24 to 48 hours. How do I check the status of my Discover card application? You can check your Discover card application status online or by phone: 1 (800) 347-3085. Both methods are available 24/7. You just need to confirm your identity by inputting your Social Security number (SSN) and you'll find out whether your Discover credit card…

Jake Turner

Professional

Is Discover Card A Visa?

Discover is neither a Visa nor a Mastercard.It's more like an American Express card, but they're not exactly the same, either.Discover is similar to Visa, Mastercard and American Express in the sense that all four are card networks. Can a Discover card be used as a visa? Discover is accepted in 185 countries and territories, but many of those places only have a small number of merchants who will accept Discover. Discover does have the benefit of no foreign transaction fees on any of its cards, though, while Visa cards may have fees up to 3%. Where is Discover Card accepted? According to the credit card acceptance tool on Discover's website, there are many markets where Discover cards are used. The company claims “moderate acceptance” in certain countries like the U.K., Canada, and Australia, while acceptance is admittedly low in other places such as Spain and France, just to name…

Peter Brown

Professional

Question: Why Is Discover Card Not Accepted?

So in the United States, you shouldn't have trouble using a Discover card, as it's accepted nearly everywhere that takes credit cards.American Express, however, is accepted by only 6.9 million merchants in the United States.This is largely due to the higher fees the company charges merchants with each swipe. Why is my Discover card being declined? One of the most straightforward reasons your credit card could have been declined is because you've reached the credit limit on the card that was set by your card issuer and the company simply won't let you borrow any more money until you've made a payment. Are Discover cards good? Discover credit cards are not as widely accepted as leading competitors. It's one of the reasons we think that the Discover it® Cash Back is a great option as a supplemental credit card. Use it to earn the bonus rewards, but keep a more…

Xavier Perez

Guest

Quick Answer: Does Making Car Payments Improve Credit?

Adding to Your Credit Profile The main reason a car loan is a good way to build and improve your credit score is because, as you make payments on time, you begin to build a positive payment history.Payment history makes up 35 percent of your FICO credit score, which is the score most commonly used by lenders.30 May 2018 How long does it take for car payments to improve credit? How Long Does It Take to Improve Your Credit After … ? Type of Negative Info780 Credit Score680 Credit ScoreLate Mortgage Payment3 to 7 years9 monthsShort Sale7 years3 yearsForeclosure7 years3 yearsBankruptcy7 to 10 years5 years 7 Dec 2017 Will paying off auto loan increase credit score? And while paying off an installment loan early won't hurt your credit, keeping it open for the loan's full term and making all the payments on time is actually viewed positively by the scoring…

Cole Foster

Guest

Does Discover Automatically Increase Credit Limit?

Reach a Discover Credit Analyst by Phone or Online To request an increase over the phone, call 1-800-347-2683.2.To do it online, log in to your account.Request a credit limit increase through Discover's online account center. How often does discover raise your credit limit? For the best chance of approval, Discover recommends that you wait at least 6 months before applying for another credit limit increase, but your credit limit is being constantly re-evaluated and could be increased at any time. Does Discover do a hard pull for credit limit increase? Small increases can be done without a hard pull, large increases require a hard pull. This is how the process works: Enter in the credit limit increase you want and all other relevant information. Discover will either give you the increase (in which case only a soft pull is done) or they will counter with another offer Why do credit…

Christian Murphy

Guest

What Is The Maximum Credit Limit On A Discover Card?

To recap, here are the best high limit credit cards today CardCredit limitDiscover it® Cash BackCredit limit: Up to $15,000Chase Freedom Unlimited®Credit limit: up to $24,000Discover it® Balance TransferCredit limit: Up to $25,000Chase Freedom®Credit limit: Up to $24,0002 more rows Does discover raise your credit limit? Reach a Discover Credit Analyst by Phone or Online To request an increase over the phone, call 1-800-347-2683. 2. To do it online, log in to your account. Request a credit limit increase through Discover's online account center. What is a good credit limit for my income? You can't exactly predict a credit limit, but you can look at averages. Most creditworthy applicants with stable incomes can expect credit card credit limits between $3,500 and $7,500. High-income applicants with excellent credit might expect a credit limit of up to or more than $10,000. Which credit card offers the highest credit limit? As the highest-overall…

Luke Bailey

Guest

Can I Get A Discover Card With A 670 Credit Score?

Good to excellent credit Even though there isn't a specific minimum score for these cards, it helps quite a bit if yours is 670 or more.For having a high credit score, you'll be able to get Discover's most lucrative rewards rates and its longest 0% intro APR offers.Discover it® chrome. What kind of credit score do you need for Discover Card? There aren't any Discover cards that flat-out require excellent credit, currently. But we recommend a score of at least 700, which is toward the top of the good range, for the cards that require good credit for approval. So most Discover cards may be a tough get for the average person, who has a credit score of 669. Can I get a credit card with a 650 credit score? Even if your FICO credit score is only 650, you can still qualify for a credit card that charges no…

Jonathan Wilson

Guest

Question: Does Discover Student Credit Card Build Credit?

Build a credit history.With Discover® student credit cards, college students can learn good credit habits and set themselves on a path toward financial responsibility after graduation.And beyond that, students also earn cash back rewards, can view their FICO® Credit Score for Free3, and more - all with No Annual Fee! Do student credit cards build credit? Paying off a credit card each month is a great way to build credit, but college students may have trouble qualifying for a credit card. If you can find someone willing to cosign for your credit card, making small purchases with the card and paying them off every month could be a strategy to start building your credit. Is the Discover Student Credit Card good? Discover it® Student Cash Back: Benefits The card also offers an incentive for good grades. In addition to its $0 annual fee, the card has no foreign transaction fees…

Ashton Hayes

Professor

Quick Answer: What Does Your Credit Score Need To Be To Get A Discover Card?

There aren't any Discover cards that flat-out require excellent credit, currently.But we recommend a score of at least 700, which is toward the top of the good range, for the cards that require good credit for approval.So most Discover cards may be a tough get for the average person, who has a credit score of 669. Can I get a credit card with a 650 credit score? Even if your FICO credit score is only 650, you can still qualify for a credit card that charges no annual fee and comes with reasonable interest rates. What is the easiest credit card to get approved for? Easiest Credit Cards to Get Approved For Best ForCard NameAnnual FeeNo Min. Credit ScoreGreen Dot primor® Visa® Classic Secured Credit Card$39No Credit CheckOpenSky® Secured Visa® Credit Card$35Low Annual FeeFirst Progress Platinum Elite Mastercard® Secured Credit Card$29No Annual FeeFingerhut Credit AccountNone2 more rows How do I…

Harold Nelson

Professor

Can I Lease A Car After Chapter 7?

A Chapter 7 bankruptcy usually only lasts three to five months, and the only way you'll typically be able to lease another vehicle is if you reaffirmed your current loan or lease during the bankruptcy.Wait until you've been discharged – Before you head off to a dealership, your Chapter 7 bankruptcy must be complete. Can you lease a car after Chapter 7 discharge? Keeping an Existing Lease If you assume the lease, you'll continue to make your lease payment, sand your contract will go on as before. If you file for Chapter 7, the account won't be included in your bankruptcy and discharged.1 Mar 2019 Can I buy a car after Chapter 7? If you're wondering if you can buy a car after chapter 7 bankruptcy, the answer is yes. But you may have to wait a few months. Approximately 60 days after your 341 meeting, your bankruptcy will be…

Louis Stewart

Professor

Quick Answer: Is Discover A Good Card?

Discover it® Cash Back Credit Card The Discover it Cash Back Credit Card is quite popular.Since this card has no annual fee that means you can earn quite a profit.You'll get a 14-month 0% intro APR for purchases and balance transfers, which is fairly good for cards like these. What credit score do I need for a Discover Card? There aren't any Discover cards that flat-out require excellent credit, currently. But we recommend a score of at least 700, which is toward the top of the good range, for the cards that require good credit for approval. So most Discover cards may be a tough get for the average person, who has a credit score of 669. Where is Discover Card accepted? According to the credit card acceptance tool on Discover's website, there are many markets where Discover cards are used. The company claims “moderate acceptance” in certain countries like…

Mason King

Professor

Will Discover Lower My Credit Limit?

Reasons for a credit limit decrease “They don't have to provide any explanation.” A credit limit decrease can hurt your credit score by increasing your overall credit utilization if you're carrying a large balance on your card.23 Aug 2018 Why would discover lower my credit limit? In fact, those good habits, including diligently paying down your balance, can actually cause a reduction in your credit limit. It's called “chasing the balance” and it happens when banks watch you pay down your balance and then lower your credit limit accordingly in order to limit their risk in case of default.27 Jun 2019 Does discover increase your credit limit? Reach a Discover Credit Analyst by Phone or Online To request an increase over the phone, call 1-800-347-2683. 2. To do it online, log in to your account. Request a credit limit increase through Discover's online account center. What is the credit limit…

Raymond Ross

Professor

Question: How Quickly Can I Raise My Credit Score?

If you owe more than that amount, paying down your balances is a quick way to boost your score.Live lean for a few months, hold a garage sale or pick up a temporary second job to find the cash needed to drop your credit card balances. How can I raise my credit score in 30 days? Here's how to improve your credit score in 30 days: Pay down revolving balances to less than 30% Remove recent late payments. Remove a collection account. Raise your credit limits. Charge small amounts to inactive credit card. Get credit. How fast can I raise my credit score? Keep balances low on credit cards and other revolving credit: high outstanding debt can negatively affect a credit score. Pay off debt rather than moving it around: the most effective way to improve your credit scores in this area is by paying down your revolving (credit card)…

Jason Kelly

User

Question: Which FICO Score Do Home Lenders Use?

Get the Score Lenders Use to Evaluate Your Home Mortgage Loan If your FICO® score is…Your interest rate is…And your monthly payment will be…760 - 8503.19%$933700 - 7593.42%$960680 - 6993.59%$981660 - 6793.81%$1,0073 more rows Do mortgage lenders use FICO score 8? FICO 8 is a credit-scoring system released in 2009. Since then, only a few lenders have adopted it. The vast majority of lenders still rely on FICO 2, 4 and 5 scores, which are all part of a larger report mortgage lenders can obtain called the residential mortgage credit report (RMCR). What credit score is used to buy a house? Typical minimum FICO scores by mortgage type: FHA Loan – 580+ credit score (500-579 score is possible but unlikely) VA Loan – 620+ credit score (some lenders require 580) USDA Loan – 640+ credit score. Do mortgage lenders use FICO or Vantage? The short answer is yes, most lenders…

Owen Long

User

Question: Which Credit Score Do Home Lenders Use?

FICO® scores are the credit scores most lenders use to determine your credit risk and the interest rate you will be charged.You have three FICO® scores, one for each of the three credit bureaus – Experian, TransUnion and Equifax.Each score is based on information the credit bureau keeps on file about you. Which credit score do mortgage lenders look at? Mortgage lenders use the middle of three credit scores Mortgage lenders typically look at the credit scores issued by all three credit bureaus, and select the middle score as the one they'll base their loan decision on.21 Mar 2019 Which credit bureau is most used by mortgage lenders? While it's common knowledge that mortgage lenders use FICO scores, most people with a credit history have three FICO scores, one from each of the three national credit bureaus (Experian, Equifax, and TransUnion). What FICO scores do lenders use? Auto lenders, for…

Walter Scott

User

Question: How Long After Chapter 7 Can I Get A Heloc?

When applying for a home equity loan or HELOC, you won't be able to do so right away.In some cases, you might be able to qualify for one of these loans three years after your bankruptcy is discharged, but, in general, it's more common to wait for five to six years to receive loan approval.26 Mar 2019 Can a home equity line of credit be discharged in Chapter 7? Home Equity Loans and Bankruptcy The short answer is no. A debtor can discharge the home equity loan in Chapter 7 bankruptcy but they cannot discharge it AND keep their home. But remember, in Chapter 13 bankruptcy, you will repay on all of your creditors, including credit cards.5 Mar 2019 How long after a foreclosure can I get a home equity loan? In general, you'll need to wait seven years after a foreclosure or short sale to get a conventional mortgage,…

Jason Bailey

User

Question: Can I Buy A House With A 651 Credit Score?

Most lenders require a minimum of 620 mid credit score for an Fha loan however there are some products available for those with scores as low as 580 (other stipulations involved).A 651 Credit score is fine to get a loan and you will probably need to do an FHA loan. How bad is a 651 credit score? A 651 credit score is not a good credit score, unfortunately. You need a score of at least 700 to have "good" credit. But a 651 credit score isn't "bad," either. It's actually in the "fair" credit tier. What is the ideal credit score to buy a house? Right now, the average American's credit score is 695, which is relatively high. For top-notch rates, aim to improve your credit score to around 740 before applying for a mortgage. Most conventional mortgages require a credit score of 620 or higher. Can I buy a…

Christian Wood

User

What Kind Of Credit Score Do You Need To Lease A Car?

You will have to pay a much higher rate if you are approved at all.BadCredit.org suggests that the typical minimum credit score to be approved for a lease is 620; the best rates are available for lessees with credit scores above 660. Can I lease a car with a 500 credit score? Auto Leasing with Bad Credit This is because there are some lending companies that will not look at a consumer if they have a score below 620. This means that you can lease a new car, even if you have a 500 credit score. Another option you can take is a lease to own vehicle, or sometimes called rent to own. Can I lease a car with 550 credit score? Credit Scores Below 550 Have a score of 550 or lower? You are generally out of luck unless you can bring your score up. Even if you do…