Hi everyone. Me and my wife, together, earn approximately 130000 a year. currently we own a bungalow in a chicago valued at around 370,000 dollars. last year (november) we purchased a broken down home in the best neighborhood for 389000 and decided to renovate. the total renovation is finished and cost us 350,000. all together we spent 760,000 dollars. when we sell our old home (in the next 2 monthes) and move in to our new home, will it be challenging to finance our home.
NOTE: were not gonna have any other MAJOR expenses besides the home.
talk to a few mortgage brokers and they can give you a better idea based on your specific situations. I wouldn't reply on yahoo answers for this.
