Home Buying in Moore>Question Details

Verna, Other/Just Looking in Moore, OK

What can I afford with social security income of $1251? I am veteran, Women's Army Corps. I can get a GI loan.

Asked by Verna, Moore, OK Wed Nov 3, 2010

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4
There are requirements seperate than just your income. Contact Andi Bytyqi with Metro Point Lending, (405) 205-7585, Andi@MetroPointLending.com. He is a local and reputable lender and will be able to help you address your concerns.

Jennifer Henning
REALTOR | GREEN Certified
[p] 405.625.1576
[e] Jenn@JenniferSellsOklahoma.com
1 vote Thank Flag Link Sat Jan 15, 2011
Verna,

Call Kurt, owner of Financial Concepts Mortgage, at 405-722-5626, he will be able to tell you exactly what you will be able to with your current financial situation.

Hope this helps,

Josh Barnett
Metro First Realty
http://www.The1ListingFee.com
0 votes Thank Flag Link Tue May 8, 2012
Obtaining a mortgage depends on income, debt and your credit score. The only way you will be able to know if this is acceptable is to meet with a local and trusted mortgage broker, they can prequailify you at no cost, they will look at your credit plus your financials and let you know if there are any programs that you may quailify for.

please see my blog with some tips on getting a mortgage
0 votes Thank Flag Link Thu Nov 4, 2010
Verna,

That number is goig gto a variable. The fact you qualify for the GI bill means you can purchase a home with no moeny down through the VA. The VA has certain guidlines it likes to keep homebuyers in with regards to ratios. But, in addition to the standard ratios for a mortgage they have a living standard ratio. This is based on the amount of people in your home, and the amount (percentae) of disposable income based on that number you need to have left after the mortgage for your other bills.

My advice is to talk with a mortgae broker who handles VA loans. They will eb able to put it in a computer system adn tell you exactly what you can afford.
Web Reference: http://www.davedicecco.com
0 votes Thank Flag Link Thu Nov 4, 2010
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