| Can anyone suggest a lender |
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miguel_us8
New Member
Cash: $ 1.00
Posts: 4
Joined: 25 Jan 2007
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| Can anyone suggest a lender |
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I would like to look into getting pre-approved as my lease is up in December.
I live in US. I would be trying to do the loan in my name only however my fiancé of 10 years would be a 2nd income (has a recent judgment so not putting her on the loan).
I have about 7 years history in my line of work.
My credit score is about 660+. No BK. No charge off. Income is 63k before taxes. But I do have about 400 - 500 monthly debt. 1 car payment, student loan debt and some CC debt that make up that 400+.
I have not owned a house in 2+ years so I am told I may be considered a first time buyer again.
I would like to finance 100% and I am looking at houses right around 300k.
If someone would like to take on this challenge or can recommend someone please let me know.
Thanks!
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Thu Jan 25, 2007 12:10 pm |
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patrick_in3
First Time Poster
Cash: $ 0.20
Posts: 1
Joined: 25 Jan 2007
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| Can anyone suggest a lender |
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It sounds like you might be pushing it as far as ratios are concerned. With a monthly income at $5250 you're going to want your total payments at or below 1/3 of that amount if possible. There are definitely programs that allow for greater ratios, but you have to keep in mind how much that is going to cost you. A $300,000 loan is going to run you right around $2,000 (Off the top of my head) and that wouldn't be including taxes and insurance. While you may *have* that 2nd income, if she's not on the loan it wouldn't be something you could use to qualify for. <deleted>. I am sure u will get the solutions to the problem.
There are no ratio programs that wouldn't require that you document your income, but that is usually going to require money down and is going to be a nominal rate.
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Thu Jan 25, 2007 1:15 pm |
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bfanalej
Member
Cash: $ 0.25
Posts: 16
Joined: 22 Feb 2007
Location: va
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| miguel, i can assist |
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miguel,
i will e-mail you personally, but i know of a lender who can literally beat everyone and can also clean up your debt you have going right now...
we'll see if i can assist, but looking forward to your response...
brian
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Fri Feb 23, 2007 5:28 pm |
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