Mortgage possible for me?

Heres my situation.

Graduated college recently at 30.
3 months as a Software Engineer in Waterford City.
Earning 32k in a permanent position. 3k bonuses.
Partner of 12 years in college for another 3 years as a nurse. 2 young kids.

Already have 10k in savings and saving about 700 per month. On course to have about 18k by the time i would apply next year as a first time buyer.

Am i earning too little to buy a house for about 140k in Waterford City?

Single income is a problem i assume.

Thanks

Congrats on the new job and well done for saving 700 a month. I dont think you have much hope seeing as you are only in your job for 3 months and supporting your partner and 2 kids. You should get in touch with a good broker and see what they say.

JohnJay said:

Congrats on the new job and well done for saving 700 a month. I dont think you have much hope seeing as you are only in your job for 3 months and supporting your partner and 2 kids. You should get in touch with a good broker and see what they say.

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Yeah thats why i said im applying next year.

So 20k deposit and 32k a year has no hope?

You will be looking to borrow 120k which is 3.75 times your income. I don't think the banks will stretch this far seeing as you are supporting a family.

But you should still talk to a mortgage broker or one of the bank's advisers - I might be wrong