Do You Make $40k/yr? Here's How Much House You Can Afford

If you make $40,000/yr, what's your max purchase price? We'll cover that and how you can figure out a good ballpark of the max purchase price when you're shopping for a home.
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Kyle Seagraves
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Motto Mortgage Alliance
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Equal Housing Opportunity

[@WinTheHouseYouLove]

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[@WinTheHouseYouLove]

.

[@Tee-sr9yf]

Is usmortgagecalculator.org a good one to use also? im having trouble with the sheet

[@MizLady06]

We need an update for this because, what we can get approved for as single people (175k) vs the actual cost of homes (325k+) is ridiculous. At this point I think banks are mocking us.

[@XboxUnitD77]

I make 40k. Bought a house in detroit. My budget allowed me to spend 1150 a mo. First time homebuyers grant allowed me to pay less than 3k out of pocket. Got a 175k home 1400sqft 3bed 2bath. Put 3% down, with 2% of that covered by the grant, so I only really paid the 1% myself upfront.

[@WinTheHouseYouLove]

Solid!

[@ms.ashleigh9268]

That’s great! How did you apply for a first rule home buying loan?

[@ladyblue3255]

How much was the 1%? Out of pocket did you pay?

[@Nykiahmusic]

Awesome! Your story sounds very inspiring!! I’m up next! Working with my realtor now!

[@One-12937]

In "Detroit"

[@LoveUrself80]

This video came right on time!!

[@WinTheHouseYouLove]

Great! I hope it helps!

[@PORTMIAMIMIKE]

Facts!

[@vanessaforbes4615]

Ikr! Looking to fill out this load application next week.

[@jarion100789]

Thanks man for taking the time to provide this information. To be honest I’ve been sacred to purchase a home because I have no clue what I’m doing. Your spreadsheet has been has a major help.

[@WinTheHouseYouLove]

Awesome, I'm glad it's helped!

[@JebSmith]

Great video Kyle. I love how simple you make it for borrowers to understand.

[@WinTheHouseYouLove]

Thanks so much!

[@lawrencewiley3104]

@@WinTheHouseYouLove 👍👍👍👍👍

[@hardnthapaint]

Thank you for the video! Awesome calculator sheet that you made. VERY helpful!

[@WinTheHouseYouLove]

Glad you like it!

[@Dlow-kc6jv]

Yes!!! Thank you for making this video so fast!

[@WinTheHouseYouLove]

You're so welcome!

[@shaibaggs3639]

Love your videos man! Thanks for all the info and your hard work! Side note** your microphone is legit or your voice is just calming as hell... both can be true lol thanks again!

[@WinTheHouseYouLove]

Hey thanks so much!! The mic is way overkill, but helps the sound quality a bit ;)

[@peruvianheat2053]

Great videos man! I'm a new subscriber and currently saving for a down payment plus closing costs. Keep up the good information! 👍🏻

[@WinTheHouseYouLove]

Thanks for watching! I'm glad you're here!

[@jessg8379]

Best videos I've seen explaining this process. Excellent channel Kyle. Kuddos.

[@WinTheHouseYouLove]

Glad it was helpful!

[@bluemulemovers7305]

Ahhhh this video was made for me at the right time. Thank you for amazing content.

[@WinTheHouseYouLove]

Thanks for watching, I'm glad to help!

[@iftekeruddin7116]

So basically at this current situation with 40 yearly I cannot buy a house unless I manage to pay 40-50% down. Even a basic house starting from 250+ it’s almost out of reach. Just sad

[@WinTheHouseYouLove]

You can do it! Best of luck!

[@trihops]

I really appreciate how clear and concise your videos are. I also appreciate that you don't leverage a weird attention grabbing gimmick. It really feels like it's a conversation with a knowledgable friend/associate. Thank you for the info!

[@WinTheHouseYouLove]

Thanks so much! I appreciate you saying that! Everywhere I look KZbin "coaches" recommend doing all this gimmicky stuff. I'm just going to stick to making videos I'd want to watch :)

[@jossj3145]

I think this guy is amazing. He is so clear speaking and calm! His tone of voice make me feel confident. I can't stop watching his videos

[@cecypreza2126]

New sub!!! Love all the information. Helps so much! I do live in CA! 👏

[@WinTheHouseYouLove]

Awesome! Thank you!

[@ScrillaTMU]

I wish my area had houses for that price lol. For a starter home, you would be looking at just under 400k for 2000sq ft with the great majority of people making around 40-60k a year

[@WinTheHouseYouLove]

That's rough!

[@One-12937]

I'm in a sellers market as well. You wouldn't know it because the state really doesn't show it. I make about 42-45k, but my overall was about 52k based on the second job I worked the past 2 years. I qualified for 250k but have good credit 720+ and 42k saved up. The most I can get for that is a decent condo. Townhomes are going for about 275k. I feel gutted man, basically lived like a slave for 2 years, eating bread and ramen, working 2 jobs Monday through Sunday and I'll got to show for it was 250k.

[@matthewyun1238]

In a same situation 😒. Avg home 400ks, busted run downs somehow being listed around 250-300k needing serious overhaul. Mobile homes in parks now averaging 150-200k needing work along with space rent reaching 700-800 a month! Median Income 67k, my income?? 50k 🥴🤷‍♂️

[@Doors067]

as a condo owner I must say that they are the shit!

[@1NDEF1N1TE]

@@One-12937 Your hard work will eventually be rewarded. Maybe you need to reassess what you do for work and throw yourself into something more lucrative or look into other professions with a low barrier to entry. I am currently work to become an MLO and it is a lot of work but it will be worth it soon. From working a shitty hourly job(42k not too bad with overtime) to a mainly commission-based salary is challenging but I work with people now that are in crazy tax brackets that I could have never imagined (90k, 100k, 125k, 150k). Plus, I have no college degree but I mean it could easily be a difference my first year of 30k more just by being studious and passing my Safe Exam. Again, I'm not trying to be a dick but there are tons of professions that don't necessarily require a Bachelor's degree etc. Maybe just reevaluate what you are currently doing and look at how and why people get paid more than you.

[@ryangood1414]

Wow man you really got me together with this info I really appreciate it.

[@HilarysPlace]

So excited for this video!

[@WinTheHouseYouLove]

Yay, I'm glad to hear!

[@DIVA7RARIMP]

The google app is awesome and gives you a realistic idea of what you can afford, THANKS🙌🏾

[@WinTheHouseYouLove]

You're welcome!

[@OctogonOxygen024816]

Hands down the most important video I can find on helping me buy a house!

[@WinTheHouseYouLove]

Thanks for watching. :) Best of luck!

[@nikki.khristmas.british6155]

Always a great video and informative...

[@WinTheHouseYouLove]

Glad you enjoyed it

[@JeffreyQProductions]

Great tool! The good thing about it is, anyone can put in any price to reverse get their lending possibilities.

[@WinTheHouseYouLove]

Thanks!!

[@zmack1830]

Kyle _ you did a good job dispelling the myth for most buyers!!

[@WinTheHouseYouLove]

Thanks! I'm glad to help!

[@youknowwithMartyKauffman]

Thanks for the video great advice I just subscribed

[@WinTheHouseYouLove]

Awesome, thank you!

[@JahdielSaneo]

GREAT VIDEOOO!!!!! SO HELPFUL!!!!

[@WinTheHouseYouLove]

Glad you think so!

[@lifeisbeautiful9455]

So grateful you did a video like this… I’m almost close to 50k.

[@WinTheHouseYouLove]

Awesome! Thanks for watching. :)

[@dannybee6677]

Wow, this gives me hope! Now I just have to wait for the dust to settle from all these bidding wars. :)

[@WinTheHouseYouLove]

I'm so glad to hear! Hang in there :)

[@victorcapetillo2070]

Is not gunna happen. Houses in my city have gone upwards of 500k. Is cheaper to buy a new towmhome with HOA flee$!

[@Razento25]

Currently April 2021 and the landscape is even hotter than ever before

[@eberjom9119]

EXCELLENT VIDEO!!👏🏼👏🏼

[@WinTheHouseYouLove]

Thanks for watching!

[@g.scoponi]

Crazy times we live in. This video is only one year old and it seems outdated in the sense that there are no houses for less than $ 400000 in my area. And most houses are going for 450000. Less than five years ago I didn’t want to buy a house for more than 350000. Crazy times.

[@barbaraharris1525]

Great information. Thanka

[@WinTheHouseYouLove]

Thank you so much for watching!! :)

[@estephanie331]

You are so appreciated.

[@WinTheHouseYouLove]

Thanks!

[@belkyzdavila4244]

You make great videos!

[@WinTheHouseYouLove]

Glad you like them!

[@FlawlessCFO]

Great video! This actually made me subscribe to you 🤗 keep up the great work

[@WinTheHouseYouLove]

Thanks for subbing!

[@FlawlessCFO]

@@WinTheHouseYouLove you're welcome 😊

[@bbrignolle1264]

Me too

[@MeAndYourMomEquals69]

the spreadsheet is so elite!!

[@WinTheHouseYouLove]

Thanks!

[@dethreveng]

Wish I could find some of these houses in my area lol. I gross $50k, but the cheapest house that I can get on a FHA / conventional loan was $260k back in January... The majority of decent houses in North West WA are in the $300k plus range unfortunately.

[@WinTheHouseYouLove]

Dang that's a bummer!! Some of these home prices are insane

[@ProjectShinkai]

expensive area

[@OvertimeSessionHD]

Yup too true, I’ve been looking for investment properties in my price range...unfortunately my range is decent in Olympia or Pasco Wa lol. All my offers so far have been overbid, now looking for properties in the Midwest where 55k a year goes much further.

[@fatoumatasidibe8907]

Live in Lynnwood WA too and it is very expensive

[@iansmith3975]

move. its not worth suffering. live comfortably

[@Fighter4TheWeak]

I'm looking for my wife and I. Loved the video! 👍

[@WinTheHouseYouLove]

Awesome! Thank you!

[@aaronosborn7395]

You’re looking for your wife? Did you check the neighbors bedroom?

[@Coffeetime1991]

This will get me a big cardboard box and an empty bottle of gatorade to use as a bathroom in New England.

[@871lennon]

I checked your sponsor credible. I was looking for 400K loan. My credit score is 800, take home pay is 20K a month, have 200K in cash and zero debt. They emailed me saying I don’t qualify for a 400K loan. Lol. Great algorithm they must have.

[@WinTheHouseYouLove]

Hmm, interesting. It might be worth reaching out to one of their loan officers and verify that there wasn't any weird thing going on with what was entered.

[@michaelday6987]

Next do $70k- $75k. That will make a good range of videos on the topic.

[@WinTheHouseYouLove]

Will do!

[@michelledelacruz3371]

Yes please!

[@samanthastipsandreviews5436]

Yesss that will be great cause that’s where I’m at so much great information

[@MrGUSGUS2]

Really enjoy all the knowledge you share. Are you offering any coupon codes to purchase the max affordable excel sheet?

[@WinTheHouseYouLove]

Thanks! Yes, use code KYLE for 20% off

[@kaolythaopsychosweetieandm9794]

This has helped me so much! Where can I get this calculator..?

[@WinTheHouseYouLove]

Hi! Right here: www.winthehouseyoulove.com/max-purchase-price-calculator

[@chicatita4753]

Love all your videos. I'm looking to invest in your market in the 50k to 65k price range any good zip codes/areas you recommend at this price range? Thank you!

[@WinTheHouseYouLove]

That's a better question for a local real estate agent :)

[@aarongold7220]

This sheet would be amazing if it included rent from additional units(or bedrooms) in the maximum affordable house for those who are trying to get in via house hacking. Althought I guess I could just take 75% of a fair rent multiply that by 12, and add it to the yearly income and get the same result. Also I thought lenders looked at your gross income, and not take home? It's really interesting looking at it from a house hack perspective. It gives a max approved loan barely higher than before(You know, 1k/month being $750 a/month is only an extra 9k/year in income), but slaughters the Out of pocket expense. Using the 40k example, the previous max price was ~200k. Add 9k to income (which is renting all other units/bedrooms for a total of 1k, claiming 75% or $750/mo as income for the loan), and it only goes up to a 250k home. But the max housiung payment goes from 1.2k to $1,470. But your out of pocket goes from 1.2K down to 720, and somehow that's all the house it says you can afford in a house hacking model. If you actually get the real fair rental value of 1k, then your housing expense drops to $470(excluding repairs, utlilities, etc). Though it obviously makes sense as to why a lender would only approve the income based on a smaller portion of fair rent.

[@WinTheHouseYouLove]

Oooh, great suggestion. I've considered making one specifically for housing hacking. Lenders use gross. I just put in info about take-home pay as a quick reference for people using the calcuator.

[@shacoraparamole4309]

Love your videos and your nice on the eyes lol

[@WinTheHouseYouLove]

😊 thank you

[@jossj3145]

YOU ARE AMAZING

[@WinTheHouseYouLove]

So nice of you! Thank you!

[@gamzuletovah5930]

Hello there, thanks for the information, still trying to process it, I watched the video, and my hopes were destroyed..... to buy in FL for those amounts I’m supposed to qualify..... are pretty much non existent..... where I live the price range for an ok no new construction and descent zip is an average of 300K .....I have not even dared to try to get pre qualify...... please any advise will be appreciate it. Thanks

[@WinTheHouseYouLove]

First, I think it would be good to use your budget or money plan to figure out what you are comfortable spending each month on a house. A lender will often approve you for way more than you should take on. This video is using conservative numbers. Some programs will alway (in my opinion) dangerous levels of debt to increase your maximum loan.

[@torledamatthews8863]

Great video. What is the credit score for conventional loan?

[@WinTheHouseYouLove]

620 is the minimum

[@jerryt4053]

Thank you

[@WinTheHouseYouLove]

You're welcome!

[@notreadyforanything]

New subscriber to your channel. This video and the google sheet is very helpful. I have a question. I know the housing market is highly competitive now. However, If I buy a home within next 3 months, my company will cover the closing costs. I only have 10% percent down payment ready for homes that my wife and I are interested in. Should I buy now so that approximately 10K I will not miss from my company? Or wait because this is a housing market bubble?

[@WinTheHouseYouLove]

Hi! Purchasing a home is a big decision and I believe, the only person who knows your financial capabilities and who can decide about that is you and your family. Best of luck!

[@Lilazn216]

I would love to purchase a home, but I would have to move out of cali. Condos here are on avg 280k. No more debt though. I just got rid of everything. Guess I'll try to save over the next few years

[@MFZero2]

I'm in the same boat, not sure if I want to buy my first home in California or buy elsewhere

[@WinTheHouseYouLove]

Cali is rough!!

[@luxurycardstore]

Loved this video. Although I make more than $40k is was still useful. I downloaded the worksheet. I was pleasantly surprised, so I took the plunge and got a quote from Credible. FYI the only reason I got the quote was because of the SOFT pull. I am VERY HAPPY with their offer, but I have to wait until next April to buy (2 years employment) Thanks for the timely information.

[@WinTheHouseYouLove]

Thanks for watching!! I'm glad to hear they offered a good rate!

[@FourThreeSeven]

I make slightly over 40k. I bought a 50k house and paid it off in 4 years. With my low income I wanted to get something I could pay off quick so I didnt have to pay the mortgage for 30 years. Its small, and not in the best neighborhood. But its nice lol.

[@WinTheHouseYouLove]

Great work!!

[@ghiaferrari7585]

I guess its easier to decide to be in n a not so nice neighborhood if you're single.

[@Gunngirl]

What kind of shape was the $50,000 house in? Was it livable? I see many of these houses in my area and it's all I can afford but can't afford rehabbing, so I"m stuck in a money loop, lol. I'm hoping a 203(k) situation can work itself out for me.

[@FourThreeSeven]

@@Gunngirl Its in great shape, previous owner remodeled like 5 years before I got it. Havent had to do anything. I got lucky tho. Looking at houses now and cant find anything close to the value.

[@missdesireindependance5194]

@@Gunngirl In the southern states and Midwest there are many in that range and some have been half way renovated. You have to buy them when you see them because they go fast.

[@candycane5077]

I do loans , your my inspiration

[@WinTheHouseYouLove]

Wow! Thanks for watching!

[@taneriapollins9225]

Please do one on 70-90K a year please

[@WinTheHouseYouLove]

Will do!

[@lincoln6981]

I've been making just under 40k for the past couple years. And that number shouldve been better last year but with covid we didn't make the same hours we should've here at work. There's some decent houses for a bit I've 200k in some surrounding areas of Houston. And I currently do have a car payment but hoping that should be gone in less than a year . But i don't have student loan or any other debts . Would I be able to do a 200k house ? Can I afford a bit more or should I aim for a bit less

[@WinTheHouseYouLove]

Text #maxprice to 937-358-6542 I have a calculator that can help

[@matthewbryant2735]

Where do I find out the tax, HO insurance and mortgage insurance rates %'s for my area?

[@WinTheHouseYouLove]

Tax rates are going to most likely be on your county's website. Average insurance rates normally aren't posted anywhere unfortunately. Mortgage insurance will be the same for every area

[@pintumiah4089]

Supper video

[@WinTheHouseYouLove]

Super thanks!

[@medabee1322]

I’ve been approved for usda making 40k m approval is for 185k but can’t find anything decent in the area I’m looking in in Georgia everything is 240k and up

[@donaldlyons17]

I thought USDA was for rural homes?

[@dwaynecadguy1897]

Please list the steps to download the max price calculator.

[@WinTheHouseYouLove]

It's in the description

[@Savage11798]

I have a question what’s this sheet your using I wanna use it as well

[@eduardocod8924]

Are they exceptions if you want to buy a rental property?

[@latoyahill2752]

I love your voice ❤

[@WinTheHouseYouLove]

🎙️ Thank you!

[@shanemwilliams9502]

Need this for 220k income!

[@WinTheHouseYouLove]

I'll add it to my list :)

[@Prophecyzonenews]

What about calculating for VA loan

[@CryptoBlick]

I think I broke your spreadsheet. Entered numbers in the range of 4%-5% to reflect my IL taxes and it started showing negative numbers in the millions. Thoughts? I like what you have here.

[@WinTheHouseYouLove]

Hahah no worries! So look in the bottom left of the sheet and it has a link to open a new copy. It's built off of iterative calculations to make all those numbers work, so it can accidentally get all funky. I'll be covering a demo on the live tonight with a quick remedy to fix it without creating a new sheet

[@mmmmmMuffinz]

your property tax is 5% !?

[@CryptoBlick]

@@mmmmmMuffinz welcome to IL. It's painful when you see others paying $100-$200/m in taxes. Homes I'm looking at are $450-$550/m for taxes here.

[@mmmmmMuffinz]

@@CryptoBlick damn bro! And I thought my county here in NY was extremely high (2.66%)

[@mmmmmMuffinz]

If I'm buying a Duplex with an FHA loan and plan to live in one side and rent out the other, how is the future rental income that I'm going to be receiving calculated into how much house I can buy?

[@WinTheHouseYouLove]

The lender will use 75% of the future rent to offset your mortgage payment

[@mmmmmMuffinz]

@@WinTheHouseYouLove So how would I input this into your google sheet? Do i add that to my gross income or?

[@dm-dl3zq]

Is the google doc for free download or or a for sale purchase? I see purchase link.

[@WinTheHouseYouLove]

I used to have it for free, but now it's for purchase with a ton more features. Paid tools like allow me to continue making helpful videos.

[@incognitofade9574]

I'm puzzled. I make over $40k and pay $1500 a month in rent comfortably yet can't get approved for over a $800 payment monthly? My debt to income ratio is low. I'm trying to shoot for $250-$297k max.

[@WinTheHouseYouLove]

Make sure you watch the entire video. That's $800/mo if you have $600/mo in debt. I also explain how the DTI will affect your situation.

[@flipmodellc7043]

What if you do a gig job? ( Uber)It’s not on my taxes because I just started this year would a lender be able to use that income?

[@WinTheHouseYouLove]

You need 2 years history of self-employed income

[@andyzhao3481]

I went on the site for the excel sheet but Im not receiving the email with the link to download the spreadsheet...

[@WinTheHouseYouLove]

Check your spam folder, if it's not there, shoot me an email at [e-mail]

[@mm25224]

If only I can buy a home at a good neighborhood in California for that price

[@WinTheHouseYouLove]

That'd be nice

[@nlabossiere5]

I love your voice

[@WinTheHouseYouLove]

Thanks!

[@emincanfiliz578]

I have questions in my 2020 tax return i made a lot off write off and its looks like i made 12 k but i made like over 50 so for 2021 i made like little over 60000 in that circumstance how much i can get loan for

[@jaiej8998]

Where do we download the google sheet? We are about to go through the pre-approval process.

[@WinTheHouseYouLove]

Switching providers. It will likely take a couple weeks for it to work again

[@jaiej8998]

@@WinTheHouseYouLove okay

[@johnsreptilepage6857]

Will the lender give you more of a lone if you want to get a multi family .

[@tbowser3906]

Crazy this came as suggested. I have 2 jobs but my main job i only make 40k and I’m permanent. My 2nd job i make more but the lenders won’t look at it because i haven’t been there for 2 years. The lender would only approve me for 120k loan because of my student loans.

[@WinTheHouseYouLove]

Thank you so much for watching!! :)

[@barbaraharris1525]

That's exactly my story

[@ts8778]

Do you mind telling how much in total was your student loans ?

[@Doors067]

I made 30k then 50k them got the axe and now make 40k crazy how much difference it is with each side of that coin but I bought my home based on my 30k salary so I'm still in a good spot

[@missdesireindependance5194]

How much was your home?

[@harlow7764]

I live in SW Washington and the land is pretty cheap. Could I get a construction-to-permanent loan through FHA? ($50,000 on land & build a cute home (600sq ft) for $120,000). Would I still qualify for first home buyer grants if I’m doing a construction loan?

[@WinTheHouseYouLove]

Yes, I believe you can do that. The loan will automatically convert to a permanent mortgage when the construction is complete. You can also ask your agent/ lender about this. Thanks for watching. :)

[@preparedtrucker6815]

If im self employed 1099 do i put what hits the bank before I take out my taxes?

[@WinTheHouseYouLove]

You'll put your Gross Income minus Written-Off Expenses.

[@CathyChapmanTopAgentinMaryland]

Can you send your spreadsheet in excel for determining the maximum purchase price someone would qualify for?

[@WinTheHouseYouLove]

Link is in the description

[@jesuschristislord6790]

@@WinTheHouseYouLove texting you isnt a link

[@robbskittles]

If I receive VA compensation and it’s tax free. Will the lenders add 25% to that?

[@WinTheHouseYouLove]

Yep!

[@JohnDoe-fs6lz]

So 150k sounds about right. Holding off on another car note

[@JuggaloRider3]

Where is the link for the google document ??

[@WinTheHouseYouLove]

In the description: Max Purchase Price Calculator

[@clintt5939]

Damn looking at this I'm thinking I'm not working hard enough or have a good enough job to get something

[@WinTheHouseYouLove]

You can do it! Best of luck!

[@reffa2858]

I'm working two jobs at 14hrs a week and I still can barely afford a house.

[@Jake.Gentry]

What if all one has is just student loans? No other debt but a recent chapter 7 bankruptcy?

[@WinTheHouseYouLove]

Here are the waiting periods: Conventional - Ch 7 BK: wait 4 years from discharge - Ch 13 BK: wait 4 years from discharge - Foreclosure: wait 7 years from deed transfer FHA - Ch 7 BK: wait 2 years from discharge - Ch 13 BK: 1 year on-time payments and court approval is needed - Foreclosure: wait 3 years from deed transfer VA - Ch 7 BK: wait 2 years from discharge - Ch 13 BK: 1 year on-time payments and court approval is needed - Foreclosure: wait 2 years from deed transfer USDA - Ch 7 BK: wait 2 years from discharge - Ch 13 BK: 1 year on-time payments and court approval is needed - Foreclosure: wait 3 years from deed transfer

[@BornToPun7541]

I downloaded the calculator and entered all my info. I noticed though that the more debt I put in, the higher the max. purchase prices went. Likewise, when I entered less debt (I will be paying off an installment loan early next year), the max. purchase prices went DOWN. Am I doing it wrong?

[@WinTheHouseYouLove]

Can you send me an email? I'll look into this [e-mail]

[@michaelflinn2791]

Dave ramsey says get the 15 yr mortgage with 20% ( or more ) down.. and no more than 25% of your take home pay.

[@WinTheHouseYouLove]

That’s Dave Ramsey’s opinion, yes

[@adubber97]

You’d have to be rich first 😂

[@ranxulin2539]

How should one balance between tax write off and the ability to get a higher mortgage amount? Because I imagine the lender’s fees would be cheaper and the interest rate would lower if one can be qualified for a higher amount based on his/her income (due to lower risk) ?

[@ranxulin2539]

Which one makes more financial sense

[@WinTheHouseYouLove]

Great question that an accountant would answer best. Your income will only affect how much you can qualify for. It will not affect any fees or rates.

[@JesseGoskesen]

What can I do my wife passed away the house was in her name and the mortgage was in her grandpas name? there's about 10k left to pay but I dot want the house anymore.

[@WinTheHouseYouLove]

I'm sorry for your loss, you communicate your plans with her grandpa. Communication is the key. Thanks for watching!

[@thorn.charmer]

TLDR: At $40k/year, you cannot afford a house.

[@tontonmestandingtall9289]

Can you do $30 thousand yr income?

[@WinTheHouseYouLove]

I'll add it to my list :)

[@mnoell35]

No! There’s no reason for anybody making 30k a year,to even think about buying a house!

[@Rosalva24]

Can you send me the link? I clicked the link and it says “send me the link but I haven’t received.

[@WinTheHouseYouLove]

Check your spam folder and if not there shoot me an email at [e-mail]

[@ProjectShinkai]

what if u work two jobs can you use both those incomes

[@WinTheHouseYouLove]

You'll need a 2 year history working 2 jobs

[@shujayethossain6554]

Hey there! If I have $21k income in 2019 and $10k income in 2020 as per my tax returns, how much house can I afford with a $20 downpayment? I have no credit card loan or car payement. Thank you

[@WinTheHouseYouLove]

You'll most likely need more income so you might want to explore adding a co-borrower

[@darrellcook8253]

10,000 dollar income? You are in the poverty level in California.

[@mnoell35]

@@darrellcook8253 that’s poverty level everywhere!

[@monicawilson842]

Thank you ! This really helped out we currently owe around 12,000 in debt should we pay this off before applying for a home loan ? We make around 41,000/42,000 and is this a good year to buy a home i heard not to this year. Thank you

[@WinTheHouseYouLove]

Only if you need to for your debt to income ratio

[@merarymartinez3376]

Do you add rent to your debt list??

[@WinTheHouseYouLove]

Nope. You won't be renting after you purchase your home, so it's not included

[@Sammyalqattan]

Im not receiving the link did you disable it :(

[@WinTheHouseYouLove]

Nope, check your spam folder

[@dwaynecadguy1897]

can you show to copy the max price into google drive.

[@WinTheHouseYouLove]

It's in the description

[@carlaephotography7096]

Thank you for the video! I signed up for the link, but I cannot edit it.

[@WinTheHouseYouLove]

Sure thing! You’ll need to make a copy or download it. If I give edit access everyone would be editing each other’s files

[@carlaephotography7096]

@@WinTheHouseYouLove I had tried copying link and put in Google...it wouldn’t work like that. I will try again. Thank you!

[@WinTheHouseYouLove]

I set it up so when you click on it, it will immediately prompt you to copy it :)

[@mekrobar7872]

I make $1800 a month from ssdi plus I have just over half a million on the way. I finance a house and owe about 90 grand on it. The half a million I want to invest with a broker. Would it be possible to buy another house for a rental plus refinance my live in home with only showing $1800 a month income if I have mid 6 hundreds credit score? I'm hoping if the housing market crashes I can invest in a house as a rental and use the least amount of my invested funds since interest rates are so low. I'd make more from the market than I'd spend on interest from the loans.

[@WinTheHouseYouLove]

It may be difficult to get financing on just the SSDI income alone. The lender might be able to treat the assets as income to help you qualify. The lender would usually take 70% of the asset value divided by the term of the loan. So on a 30 year loan, $500,000 would be $972/mo. That combined with grossing up your income to $2,250 would be $3,222/mo. That should be enough to cover your current loan and a rental while using the projected rental income to offset the future payment.

[@mekrobar7872]

@@WinTheHouseYouLove thank you very much.