I make 90K A Year How expensive of a house can I be approved for?

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asked Jan 8, 2017 in Real Estate - Renting by Lisaq (120 points)
I'm looking into getting a Mortgage to purchase a house soon.

I bring home $90,000.00 a year after taxes. How much money through a mortgage can I get approved for to buy a house?

2 Answers

0 votes
answered Jan 8, 2017 by Judy (56,120 points)
On 90K a year you could qualify for a home loan for up to 300K.

Though I recommend buying less expensive houses even if you can get approved for the more expensive ones.

I'd rather have a cheaper house that I'm sure I can pay off sooner and not have to worry about being able to pay the mortgage.
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answered Aug 16, 2024 by mirafine (4,820 points)

Earning $90K a year generally means you could be approved for a house in the range of $270K to $360K, depending on factors like your credit score, debt, and down payment. It’s a good idea to check with Washington Trust Bank to see what specific loan options they offer based on your financial situation. They can help you understand what you can afford and guide you through the mortgage process. Make sure to consider other costs like property taxes and insurance when budgeting for your new home. Getting pre-approved can also give you a clearer picture of your buying power.

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