With a credit score of 650, a $32000.00 down payment, and income of $3200/month. How much could I get a loan for to buy a house?
(0) | asked by: Stephanie Eckerle | share | 42 months ago | Report
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Hello Mrs.Eckerle without knowing the other payments and debit you may have just a rough figure is around $150,000 to $170,000 Homes site has a great Mortgage calculator to help you figure it. The last thing you want to be is house poor, where the home straps you every month and if something comes up needing a repair car, home , medical, Etc your scrambling trying to figure out where the funds come from, just some things to keep in mind. Contact me if you would like more information hope this helps, Broadway Realty Inc
Stephanie: The amount you would qualify for would depend on the amount your taxes and insurance would be on a monthly basis. We are able to complete a full underwrite on your loan package with a property address TBD based on what you would estimate you taxes and insurance to be so you have full approval pending a ratified contract, appraisal, home owners insurance and title search
Hi Stephanie. My name is Ryan Wohlert and I'm the Branch Manager of Meridian Mortgage Solutions. If possible, please contact me and I'll be more than happy to help you with your finance needs and can possibly have you pre-qualified within 30 minutes.
You can buy from 200000 to 250000 with 10% down
Stephanie, that is a great question for a mortgage lender. They could give you a ball park figure very quickly and then firm that number up once they have all of the important information (credit report, 2 years tax returns, two months bank statements, employment history, etc) Do you have a lender that you are working with? I have a couple of loan officers that my clients have been SO happy with. Let me know and I will pass their contact info on to you. Best of luck!
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