Asked by Courtney Landeros, Garden Grove, CA • Fri Mar 23, 2012
My husband and I are interested in buying our first home. I'm a stay-at-home Mom and my husband works at an insurance company making a little over $40,000. We have very little debt-- we currently owe less than $3,000 between the two of us; our monthly payments are less than $100. Anyway, I know our total income isn't ideal. We plan to move out of Garden Grove, CA to Corona, CA where houses are significantly cheaper.
Would it be possible to get "more house" if we plan on renting out rooms? For example, if we're only able to get $150,000 for a house, would having roommates lined up get us more money for a house? Or would a lender only look at what we can afford regardless of roommates?
I hope this makes sense... I know in my head what I want to ask but I'm having trouble putting it in words! Thanks in advance.
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