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Income Needed to Purchase $256k house?

Date: Fri, 02/12/2010 - 02:49
Submitted by Fair Abigail on Fri, 02/12/2010 - 02:49
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I'm self-employed, and my 2008 income was $119k, while 2009 income was $116k (AGI for both). Both years taxes have been filed with the IRS. Do I make enough to purchase a home for $265k via FHA with 3.5% down? Only debt is student loan ($946/mo.) and 2 little credit cards (balance is about $35 with $500 limit for both). No dependents, single. Thanks!


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Originally Posted by Fair Abigail
I'm self-employed, and my 2008 income was $119k, while 2009 income was $116k (AGI for both). Both years taxes have been filed with the IRS. Do I make enough to purchase a home for $265k via FHA with 3.5% down? Only debt is student loan ($946/mo.) and 2 little credit cards (balance is about $35 with $500 limit for both). No dependents, single. Thanks!


There are plenty of mortgage calculators available online. You can search in Google to find one.


Submitted by SC on Fri, 02/12/2010 - 20:37

SC

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