How much mortgage could I qualify for?

Hello Ronald,There are some programs that can help you considering your fico score and limited cash reserves available for the downpayment. if you like please contact us for a hassle free consultation. www.cresticofunding.com

Several things going on here.. First, unless we know what you monthly re accruing payments are, it's hard to say what you qualify for.. We need to calculate your debt to income ratios to know how much home you would qualify for.. 2nd, if you had no debt, you could not afford a $240K home.. Just too much... 3rd, if you have outstanding student loans, you will not get any government sponsored loan.. That includes FHA, VA, USDA, & Conventional.. You will have to have at least the last 12 payments on time, and then there might be a lender out there that might go FHA.. Most will require you to pay off your student loans.. if you want to know for sure, you should contact a LOCAL mortgage broker and let them look at your complete profile. Not the local "Big" bank, and certainly not one of those 50 states internet lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

On the surface, based on what you have provided, the logical advice would be to wait. FHA allows for a minimum down payment of 3.5% of the purchase price. On a $240,000 home, that would be $8,750., which is all your savings. By the time you calculate your payment, even assuming today's low rates, your debt-to-income ratio is going to be bumping up against 50%, without considering your other payments. As much as I would like to tell you go ahead and buy, but I fear it might stretch you too thin and if your promotion is delayed, it could spell trouble. My advice is to contact a local Mortgage Banker/Broker and have him do a complete pre-qualification. Once you know for sure where you stand, then, and only then can you make a wise decision. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

Work on your credit while you wait for the raise. Keep making payments on time and bring down your other debt balances.

Hello, first things first, when will your student loans be paid/ settlement ? since they are a govt agency, we will have to have them in good standing before a FHA loan can take place., and once those are ok, your fico score will go up.. so you would be able to use your cash for a down payment.. In the mean time , try to tuck away as much as you can in a savings account. Since you do not have a mortgage history, the more monies in a investment ,, the better.. also it depends on what your other payments are, and with your promotion that would be great, but its better to first see if we can qualify you on your lesser income first.. my email is yourloanpartnerforlife@live.com , or you can call me at 602-330-1598 linda

Hi Ronald,we can do a prequal at your current income vs. future income which is 75k. The advantage right now is interest rates are at all time low.. so there is a great chance of getting your preapproved at 240k with your present income... you can email me at freddiemac99@gmail.com or call me at 8189172910 Fred/M&M Financial Services

Your debt-to-income ratio will probably be too high for you to qualify for a $240K loan even if it is done with an FHA loan. Without additional info, it is not possible for me to advise you properly. What is the total of your monthly debt based upon the minimum payments required on your credit cards and/or installment loans (car payments, school loans, etc.). If you have your credit report, what is the total of all of the minimum payments on it? Give me a call 16/7, or email me your phone number so I can call you, and I'll be happy to walk you through the process. To learn more about me and our mortgage brokerage, click on my picture. When the next page pops up, click on "Website" and you will be redirected to ours. We work exclusively in CA and get loans done fast, typically in less than 30 days, at low interest rates and costs. Representing 39 quality lenders that offer more than 1,000 loan programs, we definitely have something for everybody.

I would like to discuss with you the possibility of raising your credit score and removing your defaulted loans from your credit report. I have dealt with cases like this and would be happy to discuss your options. Nathan@Morcredit.com, (917)684-6047.