Do I have enough for a mortgage?

Question

I have £100,000 saved in my bank and my boyfriend has savings too. 
We both earn about £1300 a month at the moment. I’m 21 he’s 23. 
Do you think I’ll be able to get a mortgage?

Answer

You could buy a house outright with that.... how tf do you have that in your early 20s unless it’s family money dang

Answer

Savings don't really influence how much the banks are willing to lend you but your joint incomes seem great but they will need to ensure you have reasonable outgoings so you can afford your repayments. If you have loans your paying off etc this will influence how much you can borrow. The good thing about your large savings is that it can be used as a larger deposit so you don't need to borrow more or can allow you to afford a better property on top of your mortgage. You must seek proper legal advice and get it drawn up that the savings you put down are yours so in the event of a break up  you won't lose your money. This happened to me, I naively put £25k Vs my ex's £4k into the property deposit and as together 10 years and engaged I didnt protect myself. We split and he's going for half so I've lost my money so do not allow that to happen.

Answer

Continue to save and pay cash for a house.

Answer

Yes ma'am, and depending on what price range you are looking in, your savings could pay off a lot of it

Answer

Yes but I would put maybe half or a little more down on a house because you want to keep savings. Plus you may want to furnish it too. If you have a loan that will be good on your credit too but I’m in the us so things may be different.

Answer

Girl y’all better just buy a house!

Answer

No you don’t have enough savings 
Joke 
😂🤣😂😂

Answer

Whether that 1300 is combined or you each earn that it’s not a lot and there’s other things besides the mortgage to pay...taxes, utilities, insurance, maintenances, etc. what are your other bills and debts you both currently have? You have enough in savings for a sizable down payment but it’s not advisable to liquidate all of that toward a house. You need to talk to a mortgage person to see what your options are. I would strongly suggest if you do get approved you look at properties you can each afford individually with no help from the other or help from anyone as well as work with a lawyer well versed in real estate law on what to do to protect yourself and money put into the house should your relationship not work out.

Answer

It's best to go to the bank.  They will be able to run numbers for you and tell you what you can afford.

Answer

That income seems low so it depends on what debt you have. They do take your savings into account so it’s worth a shot!

Do I have enough for a mortgage?

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