if my icome is in the low 30's a year how much can i quailfy for if i have no bills no credits no car payments

Use this calculator to get an idea. Taxes, Insurance, Mortgage Insurance, etc...all go into figuring out your maximum price range as does the type of property as a 2, 3, or 4 unit can add additional rental income to help you potentially qualify for a higher loan amount and sales price. http://www.calculators4mortgages.com/mortgage-calculator/pre-qualification

The quick down and dirty way is simply figure about 3 1/2 times your yearly income. A better way is to speak with a licensed loan officer. You can also look at online calculators, like the ones at http://www.metzlermortgage.com/MortgageCalculators

You should be okay with purchasing a property for around $250,000 if you don't have any other bills. Give me a call if I can help you. I can usually issue pre-approvals within an hour. P: 888-320-7888 - www.MortgagesforAmerica.org - Ken Burrows

You can safely assume that your housing payments (principal interest taxes and insurance) can be $1075 per month. You need to figure out what taxes and insurance willl be so you can back into a mortgage payment that will fit.

Hi there -- The answer is YES -- but loan amount is KEY -- what is yours? Andrew

This would depend on a couple of factors. Gross income is an important factor but we would need to look at your tax returns to see if you have 2106 unreimbursed business deductions, or if you are self employed which would lower your gross income. FHA loans which allows you to purchase a home with as little as 3.5% down does have an annual mortgage insurance premium which will have to be included in any calculation on afforabability. Assuming no debt and no business deductions and using a FHA loan 30 years you would be able to purchase a $200,000 home. This would put you at the highest percentile for Debt to Income that FHA would allow. This calculation is based on principal, taxes, insurance and MI. To calculate mortgage payment go to http://www.lasvegasmtg.com/mortgageLoanCalc.html