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Submitted 725 days ago...

Kaitee:]

Beginner (56)

How to qualify for a mortgage with limited income?

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Answer 1 / 2 - Submitted 725 days ago...

Carmax

Brain (11,502)

The best way to qualify for a mortgate will low income is to have no other debt. No car loans, no credit card bills, nothing that would be considered a commitment to your limited income.

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Answer 2 / 2 - Submitted 725 days ago...

IMHO

Brain (20,441)

Carmax is correct.

You'll also want to have saved up your down payment, closing costs and still have a few month's expenses in savings/investments Your income will determine the amount you can borrow, so if you're of modest income you'll need to find a house with a modest mortgage balance to match.

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