How much do we really qualify for?
My wife and I are looking to pre-qualify for an upcoming home purchase. Our combined household income is approx. 130k-135k/yr gross, no car loans, no credit card debt, FICOs at 800 and 780, over 100k in the bank. We received a prequalification at $417k and the loan agent's justification was that anything over would be a jumbo/non-conforming loan. Is this really correct? by NormManion from Costa Mesa, California. Jun 25th 2010
Nic Netherton (ColoradoLender)
#15 ranked lender in Colorado - 57 contributions
Sounds like you need to speak to a different loan officer. Greg Denny is the top loan officer in California on this site and I recommend you contact him for a more detailed consultation.His information can be found in the directory above or just email him directly at gvdenny@sbcglobal.netBest of luck
Gregorio Denny (GVDenny)
#257 ranked lender in California - 380 contributions
You indicated that you are in Costa Mesa, which is in Orange County. Your limit is $729,750. I would be happy to look at your situation and qualify you appropriately. Gregorio Denny --WeFixRates.Com--
Akali Dennie (adennie)
#54 ranked lender in Florida - 196 contributions
Yes, your limit would be $729,750 in your county. I would be happy to provide you with a FREE rate quote. Our rates START at 4.375% for a 30 year fixed. You would be AMAZED at how much you can save. Please send an email to adennie@fmbranch.com. We are a DIRECT lender and have been in business for almost 25 years. Thanks.
Rudi Hofmann (CaPortfolioLoans)
#281 ranked lender in California - 380 contributions
The primary item for loan qualification is Debt-to-Income Ratio. You need to bee within 45% - 50% DTI. Without knowing your your entire financial situation, I will assume you would qualify for about a $650k - $700k loan amount. .... Happy funding, Rudi
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