I would suggest you get your score up to 620-640 before you start the process.
The gal should be to get a loan you can live with. Some lenders may offer you a loan with a score of 604, but your interest rate/payments will be on the high side.
You did not mention any funds for a down payment or closing cost. Would you be able to put money down, and can you pay the closing cost.
Best of luck to you!!!.
Tough criteria, can be done, but a few more questions do need to get answered.
Get in touch with the many fine Lenders getting in touch or responding to you.
Where there's a Will, there's a Way
Prudential California Realty
DRE : 01929627
however I would be able to afford a monthly payment of up to $1800-$1900 my wife would be contrubuting to rent however she would not go on the home loan.
Single Family Home - close to $200,000
Yes, realistic depending on bedrooms, baths, downpayment, size, and location desired. Hope this helps.
Assuming you want a 3 bedroom or more home, and assuming that the $1385 is the total payment with taxes and insurance.
Based on the numbers you are giving, it looks like you need to go a hundred dollars or so more on the payment to get a h ome in the areas you want, as it looks like $200,000 is about the least you need, I can not fund fixers on this. You need min $7000 down and that will only work if the seller is willing to pay your closing costs. Many sellers will pay closing costs though.
Of course this is just general information, there are a lot of variables, but hopefully this answers your question.
Keller Williams Realty
Getting qualified through a local lender with a good reputation for closing on time is key to getting an offer accepted on a house.
Realtors are not allowed to receive "kick backs" from lenders so when the refer you to one its usually because they know you will be in good hands.
In order to protect yourself from a bad experience, you must first have yourself pre-approved with a lender in order to discover your "real" buying power based on your credit worthiness. Second, select a very good agent who is a professional and one who is looking out for you and not just their commission check.
This method is your best-test, as my kids would say, and safest manner to go by with in order to buy a home and avoid an emotional roller coaster.
I am always here to help and I am a full time REALTOR! I do hope this was of some help for you.
What are you including in your total monthly payments of $1,385?
How much do you have for a down payment?
Elva A. Wormley
Office (408) 615-8500
C2 Financial Corporation
2845 Moorpark Avenue, Suite 209
San Jose, CA 95128