What loan is best for me?
I'm looking to buy a home in 2024 and I know there are plenty of factors to consider. My credit score is in the low 700s DTI is 10% I can put down $20,000 I can pay at least $1,500 per month What type of loan is best for me? by jeff850 from Altadena, California. Dec 20th 2022
Dan Paladin (dpaladin)
#356 ranked lender in California - 792 contributions
More info is needed. Where are you looking to purchase? A $1500 mortgage payment is not a realistic payment for So. Calif. Well, without a huge down payment.
Dave Skow (daveskow)
#15 ranked lender in Washington - 455 contributions
If you want to minimize the down payment - you can use a conventional loan that allows a down payment of 3% of purchase price or a FHA loan that has a min down payment of 3.5% of the purchase price ......contact a lender to get pre approved as its free and as this will help you learn and ask all your questions
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