Personal Finance and Investing

You have to have the credit score and enough income. I think your annual income has to be 40 times the monthly mortgage and property tax payments, maybe plus 1/12 of annual property and mortgage insurance. But you should really examine your total life plan as far as how long you expect to work, your expected retirement income and how ready you are for long term care should that come up. Best to be able to put 20 or more percent down as that will eliminate mortgage insurance, which doesn't end once you get over 20% equity unless you start with over 20% equity.