Only One Salary

Expert, localized Los Angeles answers provided by Heather Roy

Only One Salary
	I had a question about money when buying a house. My fiance and I are planning on buying a house next year at the earliest(after we're married and all). We will only have his salary. We were told that it's not possible to buy a house on his salary alone. I am planning on being a homemaker/stay-at-home mom so me working is not going to happen. Does that mean we'll never own a home? I know of people that have boughten a home without having two salaries so I'm not sure I guess. Any information would be appreciated. Thank you

	Of course homebuyers can qualify for a mortgage loan based on one salary alone. The requirement is simply that their income must be enough to make the monthly payments comfortably. You'll be able to buy when your husband's earns enough to qualify and you've limited your househunting to something you can afford.
	Edith Originally published on May 10, 2008

	Back to Summary	< Previous \| Next >


SEARCH: Search for questions about Mortgage, Finance & Taxes