Financing in Carmichael>Question Details

Caroline, Home Buyer in Charlotte, NC

Hello, I am graduating in December 2012 from college and looking at starting with a 70-80k income job at Wells Fargo in January. My credit score is 71

Asked by Caroline, Charlotte, NC Fri Aug 24, 2012

My job could be relocated to San Fran or Charlotte, NC. I would like to be in Fort Collins, CO though.

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Jim Walker’s answer
Here is the rest of Caroline' s question: "What pricing should I be looking at for houses to purchase? By Jan. I will have a 5% deposit to spend on about a $100,000 home before I start my higher paying job. Should I wait a few months into my new job or apply for a home now?"

-Here is a thought. You could buy a condominium to start, even before your pay raise kicks in. Then after a few months or years you could trade up to a house - or - keep the condo for rental income when you do buy a house.

Does Wells Fargo have any perks for employees to obtain a loan through them? You could check that possibility out.

A starting salary north of $70K? Can you tell me what your major was. I have two college age daughters. I want them to choose your major!
0 votes Thank Flag Link Sat Aug 25, 2012
Jim Walker, Real Estate Pro in Carmichael, CA
MVP'08
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You should remain a renter in your situation. Have you already received a job offer for $70-80K? If not, and you're hoping to get an offer like that, then your best bet is to head to SF.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Sat Aug 25, 2012
Congratulations on your pending graduation, but what is your question?
0 votes Thank Flag Link Fri Aug 24, 2012
I'm sorry I meant credit is 710
0 votes Thank Flag Link Fri Aug 24, 2012
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