supposing  i am already working in the US, How much minimum income do i need to be able to buy a house?thank u
114313
There really is no minimum income, per say, but rather the amount of income needed to prove to the lenders will really be determinant upon how much the house you are looking at costs and how much open debt you have and your monthly payments. Your credit score will also be a very large determining factor and if it is high enough, your minimum income needed will be lower and not so much a factor and in some cases you may not even have to prove your income if you have high enough credit scores and stable work history. \n\nYou need at least a two-year work history, preferably at the same place of employment, but I have closed loans with buyers who have been in the same field but not the same position or company.   On average, your debt to income ratio should be around or under 50%, but that really will be determined by how high yoru credit scores are.  Some lenders want them around 40%, some will let you get away with 55%.  Example:  You pay $2000 in bills every month, in order to maintain a 50% debt to income ratio, then you would need to prove at least $4000 of income with yourself and/or co-borrower, including your new house payment.  But like I said, there are other ways if your credit is established and high enough and there are government programs available.  Hope it helped you out some.  If you have any other questions, edit on this post and I can try and help you out.\n\nIt's more a combination of your credit, work history, and income that will play the determining factors when buying a house.
407239
If I am reading this correctly you want to purchase a modular and place it on a foundation that you have an dget extra cash to pay for some other debts you have? \n\nIn order for you to qualify for a mortgage you must contact a mortgage "Broker" They will qualify you for a mortgage based on your income, credit score, the amount of debt that you current have.\n\nIf your credit score, income and other qualifying items are ok you might be qualified for a 100% loan. In other words the lender will lend you the amount of the property you plan to purchase. You will have to come up with the closing cost in most of these type transactions. In some, they will allow the seller to pay the closing cost, but don't count on it at all. If you have a cool buyer you might be able to make a deal outside of closing that they reimburse your closing cost, but this is an agreement that is made under the table. I can not recommend this, but you may ask.\n\nIf you don't qualify for a 100% loan find out from you mortgage "Broker" how much loan and what percentage you are qualified for. See how close to 100% that you can qualify for. See if there is some creative financing the broker know of, normally they can get an extra 5-10% from another lender, again this depends on your credit score, income an other qualifying factors. \n\nAfter you have closed on your home or just before closing if you need additional cash you might be able to qualify for an additional loan of what we, in the industry call a 125 which is a loan that equals 125% of the value of your home, causing you to have a 2nd mortgage. You can pay off debts or make an addition or remodel your home with these funds. Your mortgage "Broker" who should be an expert in all loan products would know about the 125 loan, if not search for one that is knowledgable about this type loan. You should get both your loans from the same guy,that way it will save lots of time with credit reports, appraisals, escrow or closing agents as well as all the necessary title work.\n\nI hope this has been of some help to you, good luck
217174
it depends on how you want to live and where you want to live.  Supposedly, i could live like royalty if I were in Mexico because it is much less expensive there to live and I've been working and saving for 20 years.  I couldn't do that here without penalties to my retirement accounts.  You are supposed to work til you are 65.  Unless you win the lotto.  Better start playing!
690111
Hi\n\nI've had a quick look round and they either say over 25 or you need at least 20% deposit.  (Not fair at all on the age thing)\n\nIt might be worth while trying a mortgage advisor in an estate agents.  These are usually free as they get commission on the mortgage if you choose to take one out through them.  If you have a branch of Connells by you, they offer the free service.\n\nSorry I can't offer any more advice.\n\nGood luck\n\nEdit:  I've found this company who will lend to over 21's.  Max LTV is 85%.  Could you get a loan to cover the remaining 4% deposit?  Not sure about the no proof of income though but might be worth a try.  Link below.
424421
There are lenders that could help you a little if you had a job. That is you problem. You have to have income that can be verified and job history to support that. Being a student and not having a job will make it impossible for you to buy a house unless you have someone that will say that you work for them and do a "stated" loan which is where they don't verify your income.
322582
Here's the deal. I have cousins who work in Mexico and they have secure jobs like you. They are not eager to switch anytime soon due to the instability of the job market. You are making a good living now.\n\nAlso I would like to point out that the buyer-seller market is a very fickle thing with you potentially being able to make more in the end. But their are risks involved. Salaries over here in the US are not going up at the moment and the cost of living is increasing. \n\nTaking the job means that they pay you what you are already making. In future years it is up to them to decide whether or not they want to give you a raise? You might or might not make more.\n\nMy advice from a business standpoint is too not take the offer up.
256300
First talk to a mortgage broker and see for how much you qualify for.\n\nWith that amount in mind search for the neigborhoods and locate several homes.\n\nWhen you decide on the house have it inspected by a certified inspector.\n\nIf you are working with a realestate agent they will help you make an offer.\n\nBest of luck
241210
I think it only depends on your income if you can sponsor somebody or not.\nIf you have already sponsored somebody, you know that your household income must be at least 125% of the Federal poverty line for your household size.\nThe household size includes yourself, all persons related to you by birth, marriage, or adoption living in your residence, your dependents, any immigrants you have sponsored before and the obligation has not terminated and the immigrant you want to sponsor.\nThe minimum income required is:\n$ 16037 for a household size of 2\n$ 20112 for a household size of 3\n$ 24187 for a household size of 4\n$ 28262 for a household size of 5\nIf you live in Alaska and Hawaii the numbers are different.\nFor more info go to http://uscis.gov/graphics/formsfee/forms/files/I-864p.pdf and http://uscis.gov/graphics/formsfee/forms/files/i-864pkg.pdf
80159
You should have some financial knowledge before setting out to get a loan.  I imagine you need the loan to purchase a one family house, instead of some apartments and other high end real estate.  I would suggest that you read a book first on buying a house, it will explain many of the curve balls the bank will throw at you when it comes time to buy the house.  Credit is not so important because the house will be your equity.  If you dont pay the bills the bank will take the house.  Try going to one or more banks, if they decline your loan, then ask them why, this way when you get to the next bank you will have some experience.  The bank is the safest way to borrow money, aside from loan sharks, and family.  You should look for a competitive interest rate, something less then 5% is good but I wouldn't pay more then 6.5% no matter your credit.  Well if you have a credit rating of less then 500, then be prepared to pay more in interest.  A large down payment will defer some of the monthy payments.  When buying a house I prefer to tie up the deal first, then worry about the money.  Also look the housing market in the USA showing slow growth this year.  I bet next year houses will be a lot more affordable.  Whatever the asking price is, take 10% off that price and offer the person that.  Look at the house, if there are cracks and damage take that out of the asking price.  I would buy a book on real estate before buying a house.  Get something like real estate for dummies,  I know it sounds degrading but its a 20 dollar book and could potentially save you thousands of dollars.  Its better to be informed before making an expensive decision.
883210
Question truly lies in the eye of the beholder. Last time I owned a house was 1990. I sold in 1993. I LOVED house and job.\n     I stopped believing in whoring myself out for hourly wage. When this was first introduced in States back when people fiercely rejected the idea as"selling themselves out as mere chattel 4 slave labour.\n    That info has probable, gone down the "MEMORY HOLE"by now. How ever, at time of 1993 departure. I was earning $16,45. per hr.100% percent benefits and was only months away from the magic 5 year plan.\n    This was great company 2 work 4 because at 5 year. mark. You became salaried with 125% pay raise and company car(personal & weekend were a llowed plus u get company gas card.) all co workers where shoked that I would walk away now, yet things were troubling me, about exploitation of poeple being foced into obscence living/ woking cnditions. So many die and live in absolute poverty. unimanagable in west all so we can get cheap reding glasses & and all else.\n  Although things 4 me were great and kookng better, I opted out of This new Capitaliim. brought in dramaticliy by Thather and the people who  Reagen his lines.Forget loans uless absolute emergeny. and pay back at end of end of each month. Never, ever pay minaimin  balance. u could pay  4 20 yrs, an stillnot have made dent in payment sinced u have been interest only...MARY
1167509
I do not know about the pay, but if you buy a house you can not afford before you find out if you want to spend the next 15 to 30 years on this job you will be in trouble. either start by renting and saving your money for a good down payment of buy a starter home and upgrade as you financial situation improves.
8738
With $130K in household income, you should be able to buy a $450K house.  Your monthly income is $11K.  Lenders will lend you 80% of the value of your house, so $360K, so your monthly nut should be no more than $2,500.  The standard mortgage to income ratio that lenders look at is about 30%, so you are well within the range to get a loan.  Then, you have to cover the downpayment.  A lot of people borrow a higher percentage of the purchase price, like 90%.  Others borrow downpayment money from family, or have it from savings.  \n\nAnyway, with your income, you should be able to afford the house you are talking about.
104932
If you have no debt, good credit rating, you make 18k a year and the house cost 55k.  I'm 99.9% sure you will get a mortgage.  \n\nYou may want to do 3% down mortgage, so try to get an FHA loan.  You will have to pay PMI but it will only be about an extra 30 bucks a month.\n\nYou can call your bank to get pre-approved right now!  Its free!  \n\nGood Luck!
634179
Never offer the full asking price. I would start out offering 10,000 less than they are asking. They'll probably negotiate with you till you come to a happy medium. Happy house buying!
1076130
I would say live in a low cost area if it's accessible to your job, is safe for your family, etc. The less you pay for rent/mortgage, the more you can pay on your other bills... just my opinion. :)
583388
Are you legally in the country? Citizenship is not required to own property. If you are legally able to work, and have qualified for a mortgage, you can buy a house.
269164
It depends. If your financial life is in order and is able to get a loan then you can conceivably buy a house and move in it within a month. But this also depends on if there's a lot of houses for sale where you want to live.