$10,000 income difference...

Do you think that a $10,000 less income difference would make a big difference in what you "qualify" for as far as how much house you can buy???

Our income would be about this much less if we decide to buy another house then when we bought the house we're in now. (I might become a SAHM) But we would also have about $20,000 less in credit card debt as well.

Thanks!

Re: $10,000 income difference...

It would make a difference of about a little less than $100 a month.. so when they calculate your debt to income ratio (which determines how much they will let you borrow) they will take this number into consideration.. so it would make a difference I don't know how much exactly though.

Re: $10,000 income difference...

What is the debt to income ratio???

Re: $10,000 income difference...

DTI is how much you owe versus hwat your income is in the simplest terms. You should contact a broker. If you want FM me my DH is one and may be able to help you.

Re: $10,000 income difference...

Melissa did you DH get a job? I see you said you might become a SAHM

Re: $10,000 income difference...

We don't know yet!!! I'm just trying to "hope" he does and plan for the future. I'm probably jinxing things, but...

I was just trying to find out the "what if's" so I can have an idea if a miracle happens!