First time home buyer w/ signed job offer as a student

Hi all,

I am trying to buy my first house by Dec 31, for living near my future workplace (still student but will start working in Jan 2023).

Recently signed a job offer $120k salary and $50k sign + relocation bonus. Annual bonus will be ~$20k, written on the offer letter. (I heard lenders take signed job offer as a proof of income, please correct me if I am wrong)

I have cash around $150k in bank for the downpayment, and I can pull more from my stock accounts if necessary.

Fortunately, I have zero debt, and no history of loan.

I was initially considering house price of $600k-800k, but the housing market skyrocketed recently, and starts going down a bit regarding rate and inventory increase. So I am thinking of lowering the target range.

So my question is: what would be the reasonable/realistic cost range of a house for me to look at, considering income, cash, market trend, and interest rate increase?

The house will be just for my spouse and myself. My spouse makes similar amount, but she will buy another house and rent it to her parents. So pretty much I will have to buy a house for us.

I will learn a lot from you guys!

Thanks in advance!

submitted by /u/Beefbbqlover
[link] [comments]

Hi all, I am trying to buy my first house by Dec 31, for living near my future workplace (still student but will start working in Jan 2023). Recently signed a job offer $120k salary and $50k sign + relocation bonus. Annual bonus will be ~$20k, written on the offer letter. (I heard lenders take signed job offer as a proof of income, please correct me if I am wrong) I have cash around $150k in bank for the downpayment, and I can pull more from my stock accounts if necessary. Fortunately, I have zero debt, and no history of loan. I was initially considering house price of $600k-800k, but the housing market skyrocketed recently, and starts going down a bit regarding rate and inventory increase. So I am thinking of lowering the target range. So my question is: what would be the reasonable/realistic cost range of a house for me to look at, considering income, cash, market trend, and interest rate increase? The house will be just for my spouse and myself. My spouse makes similar amount, but she will buy another house and rent it to her parents. So pretty much I will have to buy a house for us. I will learn a lot from you guys! Thanks in advance! submitted by /u/Beefbbqlover [link] [comments]

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