How much house should I buy?

[CogSciGuy]

I already got qualified for a loan with a couple different mortgage brokers a month or so back, before I backed out and decided it was dumb to go with an IO ARM, esp. with the market tanking for the foreseeable future. So I’m not too worried about what a bank is willing to lend me–I’m sure I can get much more loan than I actually want.

As far as raising my score…I’m just making regular credit card payments on two cards and then my car and student loan payments. Is there something you’d recommend above and beyond that?

[CogSciGuy]

What are “front-end/back-end ratios”?

[CogSciGuy]

What are “front-end/back-end ratios”?

[CogSciGuy]

What are “front-end/back-end ratios”?

[CogSciGuy]

What are “front-end/back-end ratios”?

[CogSciGuy]

What are “front-end/back-end ratios”?

[HLS]

Assuming that you are buying gas, get a gas card too. Some offer discounts like SHELL offers a 5% rebate on gas with their card. Use the cards at least once a month and pay the bill off each month.
Using credit will raise your score over time.

Just realize that a debit card does absolutely nothing for your credit score.

You will get a loan, that’s not the point.
You want to try and get a great loan.

Guidleines are constantly changing. A 680+ mid-score will get you a better loan than a 679 mid-score today.
A 90% loan is a better rate than a 91% loan.

[HLS]

Assuming that you are buying gas, get a gas card too. Some offer discounts like SHELL offers a 5% rebate on gas with their card. Use the cards at least once a month and pay the bill off each month.
Using credit will raise your score over time.

Just realize that a debit card does absolutely nothing for your credit score.

You will get a loan, that’s not the point.
You want to try and get a great loan.

Guidleines are constantly changing. A 680+ mid-score will get you a better loan than a 679 mid-score today.
A 90% loan is a better rate than a 91% loan.

[HLS]

Assuming that you are buying gas, get a gas card too. Some offer discounts like SHELL offers a 5% rebate on gas with their card. Use the cards at least once a month and pay the bill off each month.
Using credit will raise your score over time.

Just realize that a debit card does absolutely nothing for your credit score.

You will get a loan, that’s not the point.
You want to try and get a great loan.

Guidleines are constantly changing. A 680+ mid-score will get you a better loan than a 679 mid-score today.
A 90% loan is a better rate than a 91% loan.

[HLS]

Assuming that you are buying gas, get a gas card too. Some offer discounts like SHELL offers a 5% rebate on gas with their card. Use the cards at least once a month and pay the bill off each month.
Using credit will raise your score over time.

Just realize that a debit card does absolutely nothing for your credit score.

You will get a loan, that’s not the point.
You want to try and get a great loan.

Guidleines are constantly changing. A 680+ mid-score will get you a better loan than a 679 mid-score today.
A 90% loan is a better rate than a 91% loan.

[HLS]

Assuming that you are buying gas, get a gas card too. Some offer discounts like SHELL offers a 5% rebate on gas with their card. Use the cards at least once a month and pay the bill off each month.
Using credit will raise your score over time.

Just realize that a debit card does absolutely nothing for your credit score.

You will get a loan, that’s not the point.
You want to try and get a great loan.

Guidleines are constantly changing. A 680+ mid-score will get you a better loan than a 679 mid-score today.
A 90% loan is a better rate than a 91% loan.

[(former)FormerSanDiegan]

Front end ratio is the percentage of your income needed to service PITI (principal, interest, taxes, and insurance).
Back end ratio is the percentage of your income needed to service all of your debt (including PITI).

Old fashioned Debt ratios used to be 28/36. Thast is 28% of income for PITI, 36% for total debt.

[(former)FormerSanDiegan]

Front end ratio is the percentage of your income needed to service PITI (principal, interest, taxes, and insurance).
Back end ratio is the percentage of your income needed to service all of your debt (including PITI).

Old fashioned Debt ratios used to be 28/36. Thast is 28% of income for PITI, 36% for total debt.

[(former)FormerSanDiegan]

Front end ratio is the percentage of your income needed to service PITI (principal, interest, taxes, and insurance).
Back end ratio is the percentage of your income needed to service all of your debt (including PITI).

Old fashioned Debt ratios used to be 28/36. Thast is 28% of income for PITI, 36% for total debt.

[(former)FormerSanDiegan]

Front end ratio is the percentage of your income needed to service PITI (principal, interest, taxes, and insurance).
Back end ratio is the percentage of your income needed to service all of your debt (including PITI).

Old fashioned Debt ratios used to be 28/36. Thast is 28% of income for PITI, 36% for total debt.

[Author]

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