Foreclosure in 32578>Question Details

Ayda Patriar…, Home Buyer in Niceville, FL

i have a mortgage in jax as second home with balance 211,000 and car payment of around 450.00 i earned around 1,5000 every 2 weeks ,can i buy house

Asked by Ayda Patriarca, Niceville, FL Mon Jan 9, 2012

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Hi Ayda,

It does sound like your Debt to Income ratio might be off, a good loan officer can run the numbers for you and give you an answer in minutes...Happy to help you myself, should you wish.

Regards, Jim, American Bank, 703 615 4675
0 votes Thank Flag Link Thu Jan 12, 2012
Dear Ayda,

I would guess that your payment on the second home must be around 2000/month including insurance & taxes) and a car payment of 450.00 per month means that your basic payments without other living expenses is about 2500/month and your income is around 3000/month. It doesn't sound like you are in a position to qualify for another mortgage. However your best bet is to consult a mortgage officer who can do a prequalification for you (at no charge) to determine if you have any hope of such a venture. I do have a couple of excellent mortgage officers I would recommend to assist you in meeting your goals. If you would like their information, please let me know.

Best of luck to you.

Myke Triebold, GRI, SFR, LMC
Web Reference:
0 votes Thank Flag Link Mon Jan 9, 2012

To answer that question you would want to talk with a mortgage lender to see what you qualify for. I would recommend Susan Pace at Hancock Bank in NIceville. 729-8885. She will give you a quick, honest assessment of what payment would be comfortable for you based on your income.

Judy Griffin, Realtor
Keller WIlliams Realty
0 votes Thank Flag Link Mon Jan 9, 2012

It seems like you may be cutting it close with the ratios. Without having all the details it is hard to say yes or no for certain. Best to talk to a bank mortgage loan specialist, mortgage broker or lender.

Miami Beach Real Estate Guy
0 votes Thank Flag Link Mon Jan 9, 2012
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