U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate > Mortgages
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 04-05-2015, 10:28 AM
 
2 posts, read 1,233 times
Reputation: 10

Advertisements

I would like to know if I can get a mortgage as a senior citizen with about 1800.00 a month income and good credit
Reply With Quote Quick reply to this message

 
Old 04-05-2015, 10:57 AM
 
Location: The Triad (NC)
26,914 posts, read 58,045,364 times
Reputation: 29368
Quote:
Originally Posted by ericwilliamfleming View Post
I would like to know if I can get a mortgage with about 1800.00 a month income and good credit
Depends on where the money comes from...
what OTHER obligations you have...
and how much of that $1800 would be needed for the mortgage.

Quote:
as a senior citizen...
That said, and even if they'll let you ...don't do it.
Reply With Quote Quick reply to this message
 
Old 04-05-2015, 11:21 AM
 
Location: Southern California
4,350 posts, read 4,948,172 times
Reputation: 2129
Income is one requirement of a conventional loan. A reverse mortgage doesn't have that requirement but requires substantial equity or down payment.
Reply With Quote Quick reply to this message
 
Old 04-05-2015, 06:44 PM
 
2 posts, read 1,233 times
Reputation: 10
Default reply on senior mortgage

I have a few credit card bills i have paid off my car. The place I was looking out is a hud or fannie mae property for about 90,000 and has a total monthly payment without taxes of about 750.00 including the condo fee. I would love to hear from any mortgage person that would think this is possible.

Thanks everybody for your comments.
Reply With Quote Quick reply to this message
 
Old 04-05-2015, 08:34 PM
 
Location: Denver CO
19,094 posts, read 10,110,838 times
Reputation: 27968
Quote:
Originally Posted by ericwilliamfleming View Post
I have a few credit card bills i have paid off my car. The place I was looking out is a hud or fannie mae property for about 90,000 and has a total monthly payment without taxes of about 750.00 including the condo fee. I would love to hear from any mortgage person that would think this is possible.

Thanks everybody for your comments.
Sorry but you cannot afford 750 PLUS taxes on an 1800 monthly income.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate > Mortgages
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top