7000$ mortgage

[Aquaman]

58 minutes ago, Sonu_Patel said:

 

$7000 mortgage payment is very common in Dallaspuram ba.. 

first reply medhe annukuna open cheyak mundhe

[Aquaman]

26 minutes ago, yemdoing said:

Why are the loan officers approving those loans ? 

Loan officer only look at income,DTI ratio to approve loan amount.  

they don’t f&@k about us .  Janalu preapproval amount high unte, homes adhe range lo konnali ani em ledhu.  mana affordability batti konali.  

okkasari loan officer irrikinchaka , vadu loan pedha bank ki ammukuntadu commission tho.  

manam 30 years payments chesthu  bank ki salam kottali

[Gorantlamdhav]

1 hour ago, Manishican said:

Until job lossess happen no one will listen but job market very strong 

Sure aa? Bayata okka job kuda ledu ga mari

[Telugodura456]

1.2 mill mortgage on 1.5 mill house at 6.5% will give 7k mortgage ba.

You add 2% property taxes and $1k per month homeonwer insurance(in dallas) - you are looking at 10.5k per month.

[Ravi860]

With current rates 5k is very common… 7k means very less down payment on 1million plus home. 800-1million homes have become pretty common for new homes in so called prime areas.

[Manishican]

9 minutes ago, Gorantlamdhav said:

Sure aa? Bayata okka job kuda ledu ga mari

Only IT market weak. Even in IT big banks are hiring lot

[Ravi860]

5 minutes ago, Manishican said:

Only IT market weak. Even in IT big banks are hiring lot

Correct. Fed ki mind pothundi ela ra job market Intha strong undi ani 

[yemdoing]

45 minutes ago, Aquaman said:

Loan officer only look at income,DTI ratio to approve loan amount.  

they don’t f&@k about us .  Janalu preapproval amount high unte, homes adhe range lo konnali ani em ledhu.  mana affordability batti konali.  

okkasari loan officer irrikinchaka , vadu loan pedha bank ki ammukuntadu commission tho.  

manam 30 years payments chesthu  bank ki salam kottali

Agreed , but how much income do people have if they qualify for $7k mortgage . 
 

12k ? 

[Manishican]

15 minutes ago, Ravi860 said:

Correct. Fed ki mind pothundi ela ra job market Intha strong undi ani 

Yes 

[Telugodura456]

15 minutes ago, yemdoing said:

Agreed , but how much income do people have if they qualify for $7k mortgage . 
 

12k ? 

28k gross per month

[Funkops]

40 minutes ago, Telugodura456 said:

1.2 mill mortgage on 1.5 mill house at 6.5% will give 7k mortgage ba.

You add 2% property taxes and $1k per month homeonwer insurance(in dallas) - you are looking at 10.5k per month.

Lekkalu ekkada nerchukunnav mastaru. 1.2M mortgage at 6.5% gives 7k per month just as interest. Add another 6k + property taxes 

[Telugodura456]

1 hour ago, Funkops said:

Lekkalu ekkada nerchukunnav mastaru. 1.2M mortgage at 6.5% gives 7k per month just as interest. Add another 6k + property taxes 

malli check chesukondi mastaru. 7plus vasthundhi.

[csrcsr]

1 hour ago, Funkops said:

Lekkalu ekkada nerchukunnav mastaru. 1.2M mortgage at 6.5% gives 7k per month just as interest. Add another 6k + property taxes 

 

Assuming if you do 20% down p and I is 6k property tax assumption 2% aithe 8173

if the loan itself is 1.2m god knows

13 minutes ago, Telugodura456 said:

malli check chesukondi mastaru. 7plus vasthundhi.

[Telugodura456]

1 minute ago, csrcsr said:

 

Assuming if you do 20% down p and I is 6k property tax assumption 2% aithe 8173

if the loan itself is 1.2m god knows

loan itself is 1.2 million, Property is 1.5 million. Interest is 6.5% calculate by putting everything to zero (property tax, home owner insurance etc) - you should get around 7k plus something.

[csrcsr]

2 hours ago, yemdoing said:

Agreed , but how much income do people have if they qualify for $7k mortgage . 
 

12k ? 

i think all your DTI should be around 36% to 40% max on your grosss