 How much can I afford to buy?
Depending on the following factors, you can afford to buy a house priced up to three times your gross annual income: - Cash available for down payment, closing costs and cash reserves required by the lender
- Outstanding debts
- Credit history
- Loan type
- Loan rate
Your best bet, however, is to talk with a lender so that you can discuss your individual situation with him or her. There are many,many different options out there.
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