The best way to handle the situation is to talk to the lender get preapproved and they will let you know how much payment they will allow you to take on. From there we will find houses in the price range that keeps you at that payment.
Give me a call if you want to get pre approved and see some houses. I will be more than happy to help you.
The Chris Hutchinson Team
The Michael Group
Recomment contact a mortgage broker complete loan application continues the process
Most lender prefer 625 and above
Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
I depends on a lot of different factors, credit score, income, debt, source of income, etc.
Let's get you connected with our loan officer in Coppell and see what we can make happen for you.
If you can't qualify now, at minimum we can give you some goals to shoot for.
Keller Williams Realy
The 3 & 1/2 times payment is not a figure we use.
Your income needs to be 2 times (payment + all other payments on the credit report like credit cards and car loans)
A god loan officer can manually calculate the debt/income ratios without a full loan application.
(214) 763-4629 cell/text/nights/weekends(Really!!)
Lending all across the entire Great State of Texas!!
There are many programs out there to help home buyers qualify for a loan. Credit score is just one of the factors. I recommend that you talk and to a local lender to guide you through the process and the steps in case you need to repair your credit score.