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user1000
Joined: 18 Sep 2008
Posts: 1
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| Posted: Thu Sep 18, 2008 1:58 am Post subject: Can I get a mortgage |
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Purchase
3-3.5% down
727 FICO. No judgements, bankruptcy, foreclosure, collections, liens, etc.
24k income + 6000 child support
Almost 6 years at current job.
4k auto loan 155/month payment. 4k cc balance out of 165k available limits that I can pay off if needed. No other debts.
5 years solid rental history paying $1200/month.
16k cash in the bank.
Looking at a 30 year fixed FHA 3-3.5% down on 130k mortgage or less. Also wondering if I wanted to buy out of the area, would there be any differences? Would I need to secure a job in the new area before I could get a loan?
If I can get a mortgage, what would the process be and about how long would it take start to finish? |
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liverichly
Joined: 10 Feb 2005
Posts: 199
Location: Orange County, CA
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| Posted: Tue Oct 28, 2008 11:27 pm Post subject: |
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Your debt to income ratio is a little bit on the high side but since you have good credit & reserves, that will probably be enough compensation to get approved.
Where are you living now, where do you work, and where would you be buying? That would determine if buying out of the area would create additional requirements or not. If you are buying far away and are required to commute to an office to work, the underwriter will probably question how you will continue to make money at your current job. |
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Jenie0109
Joined: 27 Jan 2009
Posts: 307
Location: chicago IL
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| Posted: Tue Apr 28, 2009 3:29 pm Post subject: |
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| great help! nice post |
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aoresto
Joined: 15 May 2009
Posts: 1
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| Posted: Fri May 15, 2009 2:32 pm Post subject: Yes, you can |
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Based on the information you stated so far. You can certainly qualify for a mortgage.
Andy |
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Brenden Van
Joined: 18 May 2009
Posts: 3
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| Posted: Tue May 19, 2009 2:06 am Post subject: Can I get a mortgage |
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Make Money Online Fast |
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loue
Joined: 14 Sep 2009
Posts: 1
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| Posted: Tue Sep 15, 2009 7:13 am Post subject: |
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your info states that you are qualified to have a mortgage. But i think it would be best if could get some additional money just in case or stability to avoid problems in the future.
loue
Dossier de surendettement |
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