what income will I need for this house?
958572
With that income you could certainly afford that house.  Do you mean what income would you need to afford that house?   Usually, if you earn a middle income sort of salary, a bank prefers if your mortgage payment is no more than 25% of your monthly income.\n\nThese links will help you figure out the mortgage you could afford with different incomes.
770791
Sell your house and buy a 4 unit property,you will live in one unit and rent the other three out then you will be making money while you are at work or just at home.Passive income is great.
978053
it may be zero down payment from you, but you need to obtain financing for the mortgage of the house.  I would check with your bank to see if you would qualify for the loan.
363359
Depending on whether or not you are married, the average amount you would get to take home is 6,200 per month or 74,400 per year. You'll be able to claim the interest on your land and student loans. The best thing for you to do, if you have no dependents, is to let your employer take the most amount of taxes out that you can afford. Also, if your company has it, participate in the 401k retirement funds. They are tax deductible.
979615
You must meet 125% of the Poverty Guideline for the size of your household.  So if you live on your own, you would need to earn no less than $12,250.00.\n\nThe 2006 Poverty Guideline can be found here: http://travel.state.gov/visa/immigrants/info/info_1327.html
978236
Only if your income will cover it.\n\nCoach
402177
It depends highly on your income.  Look at the 1040 tax tables to get an idea for federal.  But typically, take home is 60-80% of gross.
1172195
Hello - \n\nThe good news is that their are numerous lenders that will allow you to utilize your good credit scores and still include your husbands monthly income.\n\nIn regards to Stated loans, there are two major types. What we call a SIVA (Stated Income Verified Assets) or a SISA (Stated Income Stated Assets) The lower monthly payment would be on a SIVA loan. On this loan you would have bank statements to verify your monthly income.\n\nMonthly payments could be as low as $600 per month. However, you also will want to look at how long you wish to borrow the money, and at what point do you want to reach the freedom point of owning your home.\n\nThere are a few important questions you need to make sure you ask your mortgage company.\n\nQuestion 1: Is your mortgage portable? In some cases, your mortgage may be 'portable', which means you can carry it with you when you buy your next home and avoid having to obtain a new mortgage. NOTE - These types of loans are not available in all cases.\n\nQuestion 2: Is your mortgage assumable? The term 'assumable mortgage' means that when you sell your house to a buyer sometime down the road, that the buyer can 'assume' your mortgage, instead of having to apply and receive their own mortgage. This is very attractive to some buyers and may help you during negotiations.\n\nQuestion 3: Is there any 'pre-payment penalty' if I decide to sell or refinance my home before I have paid off my existing loan? This is a very important question, since you might be forced to a penalty if you pay off certain types of loans before they are due.\n\nDid you know that with certain loan types, you can shave off years of payments and thousands of dollars in interest? It all depends on what payment schedule you pick. Using additional payments and/or 'bi-weekly' payment programs can save you enormous amounts of money and time. For example, with a bi-weekly payment plan, you could save up to $46,701.00 on a $125,000 loan. Or if you have money trapped in an IRA or 401K plan, we could show you how to get that money out TAX FREE, by utilizing a different strategy.\n\nIn some areas, a seller may not even deal with you until they can verify that you can actually afford to purchase their home. To them, a pre-appon lineroved buyer is essential. But even in cases where pre-approval is not mandatory, it is still wise to consult with a reputable mortgage company and receive a pre-approval. Especially considering that the pre-approval process is fast and easy.not to mention AT NO-COST TO YOU!\n\nOnce you are pre-approved, you can embark upon your home buying journey with confidence, knowing that once you find your dream home, obtaining the money to buy it will be the easy part!\n\nMy company provides this as a free service at :\n\nwww.victorylenders.net \n\n-How to get the best rate and payment on your next loan\n-How to get started with a bi-weekly payment program\n-How to pick a payment amount that fits your needs and lifestyle\n\nPlease let me know if you have any further questions.
844201
...it's all relative...to someone who's making $500/week, $60K ($5000/mo) is high!  to someone who needs to make over $100K just to keep up their house payments and live (like here in Los Angeles)...$60K is low.\n\nso it depends on what you are doing for your money, and where you are geographically
214213
That depends on the rest of your personal finances. Personally when renting I wouldn't (or should I say didn't) go above $650. That income, why rent at all? Believe it or not our morrtgage is less than what we were renting our townhouse for. Look into both options and decide what is best for your lifestyle.
975295
Get hooked up with a realtor you feel comfortable with.  Get pre-qualified for a loan, so you will know how much you can spend.  Make a list of the things you like in each house.  Actually 2 lists--1 list for the things you have to have (large kitchen, basement,etc.) and 1 list for the things you would like to have (3 bathrooms, a patio, etc).\nThen let the realtor know what you are looking for.\nKeep in mind, you can write anything in a purchase agreement.  So if you really like the sofa that is at the house, you can write the agreement that you will give them $XXXXXX for the house, contingent on the sofa being left there.\n\nAs for asking about the wiring, plumbing, ets. hire a home inspector.  For termites, your mortgage company will require that inspection.
541811
Net income from self employment would be 90k (135k-45k).  You will have to pay self employment tax at 15.3% which would be about 13,000.  You will also have personal exemptions and itemized deductions which I will assume to total 15000.  Your taxable income would be around 68,500.  Tax on that is about 17,000.  So your earnings after taxes would be 90000 - 13000 - 17000 = 60000.  This is making a lot of assumptions too.
1139982
What the heck...you again?\n\nI bought my first house at 25. It was 80k...I had no down payment and at the time I think I was making around 28k. The first year was a struggle. But 2 years later...I am making 37k and it is much easier. I don't have to worry about if I can eat well this week. If you have the 50-100k saved for down payment, I would think you are safe as long as you are making 50k+. It all depends on what you are making at the time of purchase and if you are comfortable with it. Don't buy an extravagant house (even with down payment) if you think you will struggle. It's not worth it. Life is too short to be stressed over a high mortgage and bills. When you have a steady and decent income, buy a smaller, cheaper house to start. You can always sell it. Most houses go up in value (unless it's a real dump in the ghetto) and you will likely make money. I thought about selling mine and going bigger, but I'm not ready for the struggle and I really don't need it. I just want it. But that's just more to clean and a bigger lawn to mow. I would start small. If you can afford it now...buy a small house. At least you will be investing your payments toward something that is yours and that you can always sell for profit. Rent is investing your money for someone elses benefit. I'm glad I bought mine. I was scared at first, but it was well worth the investment. the house across from me (same size and design) just sold for 11k more than I paid for mine. And mine was brand new when I bought it. So it's nice to know I can always sell for more than I paid for.\n\nEDIT: Sorry! Just another thought. If you are married or have kids at that time your income will obviously need to be much more. Probably in the 80k range for that kind of house. I also don't spend money on worthless things and I have no kids or husband, so most of my money goes into savings and towards the mortgage. I see my friends who are married and have kids struggle because they tried to buy too big. And another friend who bought kinda small, but still struggling. Her husband owns his own business...so their income is not always the same or steady. They make good money, but they got themselves into something they can't really afford. Just keep in mind that if you are married (and especially with kids) that they will have needs and wants that cost money. Your priority will not be a monsterous house. Dang...was my friggin' answer long enough? I'm gonna quit typing now. I ramble too much sometimes. Sorry!
469050
FHA requires full documentation of income, 2 years of Employment, and decent credit(usually 580 or above but I've gotten exceptions on lower credit scores).  You might also want to look for some grants that actually pay the 3% down-payment that is required.  FHA has made some great changes to their guidelines and I believe they are going to make a strong comeback.  I work in the mortgage buisness(Correspondent Lender) so please feel free to contact me for more information.
904192
You need to ask for a 100% mortgage.. to get that you need to be earning loads of money.. I did hear that some banks are offering 5x your salery.. in that case if you are on £30,000 a year you would be able to get a £150,000 house
1029516
you need Total capital investment of at least $200,000 that goes to what ever need to get you started\nthen you need an ADD another  $75,000 for cash on hand for thing that you need such as office supplies, gas and to live on
797301
if you have lived in the house for 2 of the last 5 years the tax on anything less than $250,000 profit is ZERO. ( $500,000 for a couple)\nif your gain is more than that or you do not qualify, then they charge about 5% on the gain (profit) for poor people and 10% or 15% for others.\nif you have not lived in the house two years, but maybe 6 mo or 1 year, you may qualify for the maximum exclusion rule if there is a good reason for selling and moving. ask tax man to explain it to you.\n maybe they will give you a percentage of the $250,000  exemption pro-rated, say $125,000 for 1 year etc.\n\n if the house is a rental, you can do a 1031 and use the money from it to buy another house. ( then have zero tax to pay now) then after the sale. you can get a loan on the new house to pull out your equity.( not the other way around) check with tax guy for advice. the tax is seferred until you sell without rebuying. or it is waived if you die and pass the house on. that is the best way.