My fiancee and I are looking to buy a home Corona, CA. We have a FHA preapproval for 200k at 5.5%. Our dream home is 300k. Our combined annual income is only about 55k.
Our debts include two vehicles and a student loan. Vehicle one: 11k, Vehicle two: 15k, Student loan: 17k
We currently have 15k saved.
If we pay vehicle one down to 7k, and only have 11k in our savings……
What is the liklihood of increasing our loan amount? Suggestions? Thanks.
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there used to be a place called farm home of america, and i have heard of FHA, but cant seem to find any info on it. doeas anyone know of a place that uses your income to influence the payment of your house rather than the amount of the loan?
My wife was laid off 6 months ago and has now found and started a new job. I have been working steady with the same company for 3 years. How long will we have to wait to try and get a mortgage. We were approved wait before she was laid off. We still have our down payment and will try for a FHA.
With a credit score of 625 and a 20% down on a 180.000 triplex, what are the chances of me being paid a loan. I reflect FHA is out because I will not be residing, I will be renting all 3 units. I also have just filed my taxes for the 2nd year in a row at 65k a year but for only 2 years. I’ve been hidden since then as I went out of the country for 10 years.
Any help, advice or suggestions greatly appreciated.
Thanks,
Joe