How much can we afford?

Asked by Jessica McCoy, Henderson, NV Mon Feb 3, 2014

If roommate has income of approx. $2000/month and I have approx. $1000/month, how much rent can we get approved for? (hope that makes sense)

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Robert Adams’ answer
Robert Adams, Agent, Henderson, NV
Thu Feb 13, 2014
You really need to speak directly to a loan officer that can run your entire scenario and then approve you based on all of your info not just monthly income. I have 2 loan officers that I would with regularly that really know their business. Please shoot me an email and I will glad put you in contact with them. Once you are approved we can create an investment strategy and I can walk you through executing your plan. I look forward to hearing from you. Best Regards,
Robert Adams
Dual Licensed Real Estate Broker NV#62827 MA#9530304

NV Broker & Team Leader of The Adams Team at Rothwell Gornt Companies
C:702-349-9175
O:702-932-8813
F:702-932-8826
RobertAdams@LVrealestateHELP.com
http://www.LVrealestateHELP.com
0 votes
Matthew D'Er…, Agent, Las Vegas, NV
Mon Feb 3, 2014
You will get approved up to 1,000 to 1200 depending on other debts, credit cards, etc. However, if you've not been roomates before, they don't like that so they may require two month deposit instead of one. We manage over 400 homes so let me know what you/re looking for and I'll send you every home that matches your criteria and help you with application. Matt - LasVegasMatt@gmail.com
0 votes
Lauri Bauer, Agent, Las Vegas, NV
Mon Feb 3, 2014
Hi Jessica, when you mention 3000.00/mo total are you referring to gross or net? Many require 3 x's the rent for your income but they are referring to your amount before taxes. So, if you make 3000/mo before taxes you would qualify for 1000 to possibly 1200/mo.

Feel free to call/email me with any questions regarding that and to let me know what your criteria is and I can do a search and send you some listings to take a look at. I can also help you with the application process, any credit concerns that you may want to discuss and I will be able to find out what the income requirements are before you submit an application.

Laura Bauer
Foundation Realty, LLC
702-370-1072
lauri365@aol.com

http://www.trulia.com/voices/profile/Real_Estate_Pro-Las_Veg…
0 votes
Angel Sukavi…, Agent, Las Vegas, NV
Mon Feb 3, 2014
Most places require 3X rent amount but some would accept 2.5X so you would qualify for a rent amount of about 1,000.
0 votes
dawn lane, Agent, Las Vegas, NV
Mon Feb 3, 2014
Usually about 1/3 of your income would be your rent . You must also have food credit or the landlord may charge you more for deposits or deny you altogether . So , with your present situation about 1,000 a month is what you're looking at .
0 votes
Good credit not food credit . Sorry .
Flag Mon Feb 3, 2014
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