No Shirt, No Shoes, No Mortgage
It’s getting more and more difficult for would-be borrowers in the New York region to get a mortgage, according to an article in yesterday’s Times. Mortgage brokers say many lenders are refusing loans to applicants with credit scores that are below the 680-700 range. Stated-income loans, meanwhile, are basically history, and people with lower credit…
It’s getting more and more difficult for would-be borrowers in the New York region to get a mortgage, according to an article in yesterday’s Times. Mortgage brokers say many lenders are refusing loans to applicants with credit scores that are below the 680-700 range. Stated-income loans, meanwhile, are basically history, and people with lower credit scores have to pay much bigger down payments. To add insult to injury, loans are coming with more fees nowadays, especially for those with less-than-pristine credit. One financial analyst says loan applicants with credit scores below 720 and down payments of less than 40 percent face fees between .5 and .75 percent of the loan amount. Is all this a necessary correction, or has the pendulum swung too far in the other direction, making home ownership unattainable for a huge segment of the population?
Lenders Raise the Bar [NY Times]
Chart from The New York Times.
i think i know how much i bring home a week…
5.34 – you are way off, you are applying a far too high rate.
40K a year = roughly $500 a week, after taxes.
A person Making 40K a year in NYC probably pays very little in income taxes. Of course if you are talking about a couple and or a person with kids, the only tax liability would be social security and medicare – about 7.65% of income.
For a single person, the effective income taxes beyond that would be based on the # of deductions, tas credits, etc. On average, probably 10-15% including state and city tax.
just a question: refering to some earlier post about most people make around 40k a year. how much does someone who makes this amount of money pay in taxes a year? thanks.
just a question: refering to some earlier post about most people make around 40k a year. how much does someone who makes this amount of money pay in taxes. thanks.
4:39 = ashlee simpson
4:24, it makes me lmao when people talk about IQ and age on the internets
We’re all dogs anyway, what difference does it make?
you haven’t been to clinton hill, the what since you were locked up.
i hear they have internet in prison now. learning anything??