Do I need to save more before investing?
I am single in my 20s and wanting to buy a home preferably a fixer upper that I can make a profit on once done with renovations. I saved around $30k to put down but my income is not so good. I tried applying with a lender and got approved for $200k. The problem is, prices in my area are $300k up. Do I need to save more and wait before investing? I am working on getting a better income at the moment. by rmcfarla652 from New York, New York. Mar 2nd 2022
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions
Maximum purchase price is primarily about income, and safely being able to afford the payment. So if you can get a higher paying job, that would help, as would maybe adding a co-buyer. two people, double the income, dramatically increase your purchase price. I lend in MN, WI IA, ND, SD. Find me at FirstTimeHomeBuyer-MN.com - Cambria Mortgage, NMLS 274132
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