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Hey all so as many of you can guess yes I am LIQUEST. I had a lot of maturing to do and was unknowledgeable of many things. With that said, I wanted to see what we're looking at with our situation and get everyone's feedback on the following below.
We are recently married and we will have 200k to put down in Jan (70 from parents) and 130 from savings with bank reserves and then more money coming in June 2016 due to her fathers estate.
So here's what our goal is:
200k down with 10,000 for back up payments left in bank until June 2016
10,000 from wedding gift money
40-43 percent DTI (judging upon a 5% interest rate about a 1600 a month mortgage)
Under 9000 taxes would be ideal and essential
We both make a combined 68k gross income (I make off books money so that can't be relied on or added but it helps)
Only reoccurring debt is 410 in car loans
No credit card payment debt
Looking for home 349-450k (400-450k may not even be possible as DTI would be 50 percent)
Last edited by LongIslander21; 06-23-2015 at 07:50 AM..
Do you have enough for closing costs? I see places all the time for about 400-450 in pretty solid neighborhoods. I would say go to MLSLI dot com and put in your search criteria and see what comes up. Then start filtering by towns that you like. You can get a starter List that way... Anyway, you get the idea
Do you have enough for closing costs? I see places all the time for about 400-450 in pretty solid neighborhoods. I would say go to MLSLI dot com and put in your search criteria and see what comes up. Then start filtering by towns that you like. You can get a starter List that way... Anyway, you get the idea
Our target areas are Locust Valley, Glen Cove, E. Norwich and Melville.
Her father passed in Jan. be respectful of the deceased.
so you get the money in June 2016 when you're wife turns 18? Not a bad deal!
Whatever happened to your can't miss investment opportunity? Did you triple your money already?
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