Anonymous
Anonymous asked in Business & FinanceRenting & Real Estate · 4 weeks ago

If i make $26 and hour and my bf makes $20 an hour and our house payment is $971 a month can we afford a truck payment?

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  • 4 weeks ago
    Favorite Answer

    On that income, you would qualify for a much larger mortgage. You are using less than 13% of your gross monthly income. On the same income, you would still qualify if other debt was no more than 8% of GMI, and for you, that would be $637. As long as there was no student loans, credit cards and other debt, you could afford $637 a month for a vehicle and the house, quite easily.

    • SCATTY c
      Lv 5
      3 weeks agoReport

      Given you don't know how many hours these people work a week and what their other expenses are or how they want to spend on a truck... its impossible to say that they can 'quite easily' afford $637 on a vehicle 

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  • 4 weeks ago

    Depends on what other debt you have...........

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  • Anonymous
    4 weeks ago

    Not enough details but PLEASE tell us you all did this house buying AFTER seeing a good attorney who wrote up a binding agreement for when you all decided to stop playing house!  Just reading the question I doubt you make that much money!

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  • 4 weeks ago

    No idea.

    Knowing your hourly rate without knowing how many hours you're working is essentially pointless. You could each work 1 or 50 hours a week, with very different income outcomes.

    Nor have you said what a truck payment would be; or how much expendable income you even have after any other commitments (bills etc)

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  • 4 weeks ago

    That would depend on how many hours you each work on average, and so, what your combined average monthly net income is.

    Plus, you failed to say HOW MUCH the truck payment is.

    Since you left out so many of the actual numbers, no one can even guess at an answer for you.

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  • 4 weeks ago

    Sure...........

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  • 4 weeks ago

    How can we possibly answer you?  We don't know how many hours you or your bf work.  What is your and your bf's annual income?

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  • Anonymous
    4 weeks ago

    If you work enough hours, yes.

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  • Anonymous
    4 weeks ago

    Who knows ? Right a budget and see😉

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  • 4 weeks ago

    There is way to much info missing to say for sure, such as what are your other costs per month.  Do you each average 40 hours per week and how much of that do you net on each paycheck.  Also, how big is the truck payment?

    Assuming you each work 40 hours per week, then your combined gross pay sounds like it comes in at around $7500 per month, so if your housing payment is jsut $971 and there are no other major debts, then it sounds like you can easily afford a truck payment, but again - way to much info is missing from the question to really say.

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