First Home Purchase Mortgage Qualifications
My wife and I plan to buy our first home which costs $500,000 and we plan to put a $100,000 down payment. Our income is a little over $150,000. Do we qualify for a mortgage? What are our options? by lauronen587 from Amherst, Virginia. Oct 7th 2021
Dan Paladin (dpaladin)
#356 ranked lender in California - 792 contributions
Not enough info. Though in general it would appear you do. The unknow here is your debt. So as long as you are not heavy in consumer debt and have sufficient credit scores you would appear to qualify. Most opt for a 30 yr. though if you can afford a shorter term it would be more beneficial. Hope this helps.
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