yearly income 35,000(after tax),wanna buy a house around 175,000 (3 bedsroom at least) any suggestion for plac
540562
How about Longview/Kelso, WA.  One of the least expensive areas along the entire I-5 corridor on the west coast.  The average 3-bedroom house is around $174,000 with a 22% appreciation from 2005 and the price is going up.
953478
work with a realtor and they will find you the deal...but first, get pre=approved for a loan so you will know how much you can afford.  remember that 28% of your salary is all you can get financed for (in most cases)  chekc out american dream, they make down payment loans to 1stt time buyers
151009
About $CA420,000\n\nhttp://www.rbc.com/economics/market/pdf/house.pdf
1179007
Three family homes in my area go for 350k-450k on average.  (350k or 450k / 3 Apts)*1% = $1167 or $1500/mo\n\nSo in my area (north of Boston), I would say your formula fits.  But housing in MA is fairly expensive.  This rate may be too high for other areas were the cost of living is significantly lower.\n\nAs a rule of thumb this could be a good 'guesstimate' of what ball park you should be in; but you should adjust this for neighborhood area, quality of space, cost of living, and other factors.
925821
First, get out of that ARM!!!!\nYou can get fixed 30 yrs at or below 6.75% right now.  Yes, that's higher than what you're paying right now, but lower than what you'll re-fi at in two years when you really will be hurting.\n\nIf you're in San Antonio, then you've noticed that we had a wave of investors come in.  This did two things.  1 - Drove prices of newer homes up pretty quickly.  2 - Drove prices of rentals down quickly.\n\nYour mortgage is $1,400 and it could rent for $1,000.  You're probably correct.  This price range is for buying and living in, not for owning as an investment.\n\n"Money makers" more often than not, come in neighborhoods that you'd rather not put your family into.
913295
Easy, as much as you can afford!, \n\nAt the minimum I would suggest no less than 25% but the more you put on, the less interest you will pay in the long run and you will be mortgage free years ahead of schedule!\n\nWhen we brought our first house we put every cent of savings we had on to the deposit (dont be fooled going for the minimum payment, it adds thousands to the interest!)\nwe also went for the shorter term (25 years instead of 30) to help force us to pay it off quicker (you can always re-mortgage if you get in the poo).\nAnd then we proceeded to put 50% of our income on it for the first 3 years, we have now lowered our payments as we are traveling and renting the house out, but once we return we will put the payments back up.
1138059
Generally speaking, a DTI (debt-to-income ratio) of 50% would get you a loan.  So, that means you can afford a monthly payment of $2416.67 and that would have to include any other revolving/installment bills you might have.  (That number would also have to include property taxes and hazard insurance.)\n\nFor a loan amount of $300,000 you'd be looking at P&I of $1896.20/month.  Based on a purchase price of $375,000 you'd be looking at Taxes/Insurance of $500/month.  That puts you at $2396.20 or a DTI of 49.6%.  Close enough.\n\nIf you went Interest Only, you could bump up the loan amount by $35K and the purchase price to $418,750.  The Interest Only payment would be $1814.58.  Taxes & Insurance would be $558.33.  Total, $2372.91 or 49.1% DTI.  Again, close enough to give you the info that you need.\n\nThis is based on CA property taxes and no special assessments.  You're mileage may vary.  Some settling of contents may have occurred during shipping and handling.\n\nIf you're buying in CA, shoot me an e-mail:  tom4loans@sbcglobal.net
191033
The following  link will help you out. It has many different calculators on it pertaining to home buying. It gives you "How much can I afford" and "How much can I borrow" info as well as things like "Rent vs. Buy" options.\n\nGood luck with your home search!!
1062945
Go to realtor.com and check out houses with section 8 already in place your get an income with that leave your taxes for that property and invest in more houses in the end your have a large portfolio of properties it will give you time to do the things you always wanted to do. Check out Rochester NY there's lots there.Don't do the programs if you can start with little down for a mortgage.These programs maybe a scam so be careful.
1016557
I think they are all pretty much offering a rate of 3.5 if you look online. I suggest you consolidate or refinance before June 1st. Here in CT the rates are about to go up to 7%
1167509
I do not know about the pay, but if you buy a house you can not afford before you find out if you want to spend the next 15 to 30 years on this job you will be in trouble. either start by renting and saving your money for a good down payment of buy a starter home and upgrade as you financial situation improves.
1076130
I would say live in a low cost area if it's accessible to your job, is safe for your family, etc. The less you pay for rent/mortgage, the more you can pay on your other bills... just my opinion. :)
8738
With $130K in household income, you should be able to buy a $450K house.  Your monthly income is $11K.  Lenders will lend you 80% of the value of your house, so $360K, so your monthly nut should be no more than $2,500.  The standard mortgage to income ratio that lenders look at is about 30%, so you are well within the range to get a loan.  Then, you have to cover the downpayment.  A lot of people borrow a higher percentage of the purchase price, like 90%.  Others borrow downpayment money from family, or have it from savings.  \n\nAnyway, with your income, you should be able to afford the house you are talking about.
138462
Lots to consider, what is the appreciation in the community that you are living? What does it look like for the next five years? With home ownership your interest is a deduction from your ordinary income? What is your present rent? Over 5 years.?\n\nWhat are present market value of the sold homes?\n\nGenerally home ownership is the way to go.\n\nGood Luck
655545
usually 30% should go to housing*  what would 600 a month\nbuy  $750 a month would buy a house with no money down..\nlet me know **
10570
Try Regional Mortgages.\nhttp://www.regionalmortgages.com
771615
Man... where are you going to find a fourplex for 100-200k?  Madagascar? Somalia? Sudan?  Just kidding, but that's pretty "down market".  \n\nHere's some tips:\n\n1) You can get an investment for around 4x-6x your salary from a bank. Think around 120k-180k. \n2) You can generally get something that is 80% levered (where you put 20% down and even more levered if you have good credit/reserves). Sure, you can get 100% financing - but you don't want to stretch yourself to the breaking point. Tighter credit policies also make it difficult to get more financing. Don't do exotic financing like negative amortization or interest-only as you can lose your shirt easily. Go 30 or 15 year fixed. \n3) Don't go so cheap on the four-plex (speaking from experience as I owned a fourplex).  It is better to deal with a single unit that costs the same. Your tenants are a) going to take MUCH better care of your place because they are generally more respectful of property, b) you'll have less people living in your place doing wear/tear/accidents and c) you will have less headaches managing fewer people. \nPeople do REALLY stupid things with your stuff, especially when the deposit is only a few hundred bucks instead of $10,000... my person experience, tenants flood the bathrooms, put the washing machine outside, shoot out all the lights with a bb-gun, dig up the decorative tree in the front yard, go four-wheeling on your lawn, iron on the carpet, knock down a fence, pay late, skip rent, dump trash outside, dump their kiddie pool water next to the building, bash in closet doors.  Each small thing will cost you 1-12 months in rent lost money at the low end.  My single unit place in California that cost 3x as much as my four-plex had much fewer tenants, less wear and tear, no headaches, was easier to sell and netted more money (downside was lower average occupancy).  \n5) Start with a single-unit fixer upper in a working class neighborhood.  Don't invest too much money in fixtures that don't have a positive return.  Put your "sweat capital" into things that make it habitable (e.g. painting, fix the plumbing, make sure the doors/windows/roof all look good). I'm not saying you sould be a cold-hearted slum lord, but don't waste money on things with negative NPV. \n6) Unfortunately, it takes money to make money. Get a good job.  Take side classes/certificates/degrees to make sure you can make more money in the future.  It took 10 years for me to make enough money, but once I did, making money was much easier when you have money. Learn about investing.  Knowledge is very powerful - which you can then use to make your money work for you.  Read, read, read.  Go to the library. Borrow books from friends. \n7) Don't be afraid to take some risks.  You are going to screw up. You are also going to do things very well.  But you need to take risks to get ahead.  When things go wrong... and they will go wrong... take self-responsibility (i.e. don't blame someone else) and learn a lesson for the next time. \n8) Cut way back on your spending.  It's going to suck, but you can turn your sacrifices into cash, which you can then use to fuel your investments.  Don't play the "keeping up with the Joneses". You don't need the latest gadget, a new car, new clothes, take-out dinner, the nice cut of steak, the fabbo trip.\n9) If you REALLY feel like you need to invest now, get friends to invest with you.  However, make absolutely sure you have a contract that is iron-clad.  Designate a chairman, voting system and equity rules because friends/family and money don't mix.  Some will flake and not work their share. Some will want to do it their way and only their way.  Some will want to back out if things go badly.  I will never work with family/friends.