Financing in 97055>Question Details

Billie, Home Buyer in 97055

what is the lowest annual income to be made in order to be approved for $145,000 USDA loan?

Asked by Billie, 97055 Mon Aug 6, 2012

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Thanks for the opportunity to reply !

At present the USDA i believe is at 3.5% on a 30 yr mortgage loan.

Thus ... $145,000.00 mortgage loan @ 3.5% for 30 yrs. = $651.11 per month. P. & I.

30% of your monthly income to qualify would be approx $2,170.00 per month ...

Thus the annual income would be about $26,040 to obtain that loan. Note .. other factors

might also apply and the 30 % est. might be 28% or so.

Hope this helps. Best Regards .. Doug Bragg, Broker; Coldwell Banker Seal. 503-826-9207
0 votes Thank Flag Link Wed Oct 31, 2012
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