Jhalm@stonet…, Home Buyer in New Port Richey, FL

Can i get a 100,000 home loan if my credit score is 622 and i earn a salary of 40,000 a year? I plan on moving next spring from Michigan.

Asked by Jhalm@stonetransport.com, New Port Richey, FL Thu Jun 21, 2012

Help the community by answering this question:


I work with a lot of people who have less than perfect credit, seems like you can get approved now. I tell all my clients that need a pre approval to visit The Lenders Network, I have seen loan approvals from them even with scores under a 600. So if anyone can get you a loan they can.

Good Luck!
2 votes Thank Flag Link Sat Aug 10, 2013
Greetings, I am from Michigan...graduated many years ago from Wayne State University. I've been living the Florida lifestyle since the early 80's and loving every minute of it.

Your best bet is to contact a mortgage professional because they can look at all aspects of your financial profile, and a good mortgage professional will be willing to give you advise on what you need to do to get where you need to be to qualify. I work with the two following lenders that provide exceptional customer service:

Jerry Ballentine at Bay-to-Bay Lending jerry@baytobaylending.com 813-251-2700 x 117

Raul X. Alvarez, Loan Officer with Chase at http://homeloan.chase.com/raul.x.alvarez or by phone at 727-916-7147

It would certainly be an honor to be able to assist you in finding a home. If you provide me with the specific features, location, and price range, I will be happy to put together a custom search and email you a link to view homes that meet your specific criteria. For your convenience, you may use the form at http://homenetyouteam.blogspot.com/p/contact-us.html. Regarding the real estate services we offer to our customers, our team has served the Tampa Bay Areas of Hernando, Hillsborough, Pasco and Pinellas Counties for over 15 years. In this area we are known as the HomeNet “YOU” Team, and the team of real estate professionals works together to ensure that your home purchase is a pleasurable experience. HomeNet never charges a transaction fee like many other real estate firms in the area saving HomeNet customers from $250 to $350. For purchases of $70,000 and more, HomeNet pays a $500.00 cash rebate at closing http://homenetyouteam.blogspot.com/p/500-customer-loyalty-re…

Please visit our website at http://www.homenetyouteam.com to search for homes and use other resources that we have made available to our customers. You can also sign up for a free ListingBook account to search the MLS just like a Realtor, just look for the FREE ListingBook tab at HomeNet’s website. Our team looks forward to assisting you in finding a great home at a great value.


Fred Strickroot, Realtor®, MBA, CDPE
Florida Lic. Real Estate Brokerage
2154 Seven Springs Blvd, Suite 103
Trinity, FL 34655
1 vote Thank Flag Link Sun Jun 24, 2012

See the loan programs at: http://www.pro-option.com

Steve McRory
Pro Option Mortgage/ Florida
Ph: 888 662 4404
1 vote Thank Flag Link Thu Jun 21, 2012
Yes you can, and if you have problems with your credit keep trying different banks and consider a co-signer, hope I have answered your question even though you posted this a month ago... Wish you the Best! Jeannette batsikas
0 votes Thank Flag Link Mon Jul 23, 2012
0 votes Thank Flag Link Sun Jun 24, 2012
You may be able to go up to 49.9% DTI (Debt To Income) which could allow you to purchase the home you want.

There are some lenders that will allow qualified buyers to go up to 60% DTI.

0 votes Thank Flag Link Sat Jun 23, 2012
You are starting at the right spot in your decision to buy real estate in Florida. Financing is critical to understand in the real estate purchase process. There is way too much we do not know about your situation to give reliable direction. That why websites like FloridaRealEstateMadeEASY.com were created.

Here, here is an excerpt from my recently completed Florida Home Buyers Guide, 25 pages of the stuff you really want to know from financing, to closing.

"There are several RULES OF THUMB that will give you an approximate idea of what
you will be able to spend.

The FIRST RULE states that you can afford a home with a price tag that is 2.5 times your annual salary. For example, if your annual salary is $50,000, applying this formula would mean that you can probably shop for a house with a price up to $125,000.


says that you should be able to use 30% of your gross monthly income (before
taxes and deductions) for a house payment. Assuming, for example, that your gross monthly
income is $4,000 and using this formula as a guide, you may be able to comfortably afford a
monthly payment of $1,200."

These are generality and will be influenced by your credit history and presence or absence of red flags has noted in the guide.

Contact me if you would like a copy.
Annette Lawrence, Broker/Associate
Remax Realtec Group, Palm Harbor, FL
Chat with me at: http://www.FloridaRealEstateMadeEASY.com

If you are serious about purchasing real estate in Florida, you need to call.
Don't use the 'contact' button.
No, don't email.
Call if you are truly serious about real estate.
0 votes Thank Flag Link Fri Jun 22, 2012

Good afternoon. Not a Licensed Lender or Mortgage Broker, I suggest you contact one.

Please feel free to contact me if you would like a list of several to choose from.

Steven Zimmerman
Husband, Father, Pop Warner Volunteer Football Coach
Actively Licensed Realtor
Gulf Harbors Resident-Specialist
0 votes Thank Flag Link Thu Jun 21, 2012
HI Jhalm, it depends, the best advice I can give you is to call one of our local lenders. Jody Pastorino is our lender and she even did a loan for my mom. She is the best and if it's possible she will tell you. Mobile: 727-243-2109 Toll Free: 800-735-5957 or jpastorino@paramountmortgage.com

I hope it works for you and we can certainly help you find that next home!

Joe & Carol Bell
Real Estate Consultants

Exceeding Your Expectations!

727-643-8134 - Joe's Cell
Carol's Cell 727-692-6008
1-866-765-6497 - FAX

8018 Old County Road 54
New Port Richey, FL 34653
Licensed in Florida
0 votes Thank Flag Link Thu Jun 21, 2012
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