First Time Buyer - a few questions

hi sarah, thanks again, although it was a house valued at 335000 that we were looking at... sorry about that :eek:

We have a combined income of approx 75k and savings of approx 20K and where looking for the 92%-100% monthly repayments over a period of 25/30 and 35 years.
Thanks again... at this rate you should be on commision by the administrator of the board :)
 
Bloody hell PN :D

€335,000 at 100% is €1679/25 yrs €1504/30 years and €1384/35 yrs.

92% or €308,200 is €1526, €1365 and €1257.

I'd better get an invite to the house warming!!

Sarah

www.rea.ie
 
Hi Sarah, I've seen you've really helpfull to all the previous posters and I was wondering if you could be of some assistance. My partner and myself are looking into buying a propery. His salary is approx. 36K and mine 27K, both have outstanding car loans, for 9K and 8K approx., no savings (even though our parents gave us some money we put into a credit union account to be used for some furniture, solicitor fees, evaluation and survey fees....) We are looking for a 100% mortgage for 35% years, could you give as how much can we afford and how much it will cost? Forgot to mention, we are actually renting, paying out E745 a month...Thanks in advance. (you should ask for some kind of commision from your services)
 
Hi Cati,

What are the repayments on your respective loans? I'll need these to calculate your maximum borrowing capacity.

Sarah

www.rea.ie
 
Hi again Cati,

With both loans remaining your maximum is going to be c€240,000 with repayments of €991 at 3.5% over 35 years. If you were able to repay the loans this rises to €290,000 costing €1198 on the same terms.

Commission? Pah, I do it for the good of the community! :D

Sarah

www.rea.ie
 
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