Home Buying in Miami>Question Details

Laurie, Home Buyer in Miami, FL

Earn 30K annually. 650 score. Can I buy a house? Here Miami, FL. Looking for a house around $160.000

Asked by Laurie, Miami, FL Sat Nov 5, 2011

Earn 30K annually i have 3,000 debt (credit cards) 5,000 in savings. Credit is around 650. My husband credit is bad but has a permanently job, he earns around $50k/year. Looking for a house near 33176 miami, fl maybe 2 bedrooms 1 bath (not condo or apartment). Can I qualify for a mortgage? If so how much could I borrow. I am first time buyer. Thanks

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11
Maybe, but the income sounds a little light for that sale price. Have your Realtor introduce you to the lender they trust the most, then team up from the beginning. Lots of info on my blog, the link it below, hope it is helpful,
0 votes Thank Flag Link Thu Nov 10, 2011
Hi Laurie

It's important that you speak to a mortgage broker or go to your bank and speak to a loan officer regarding your options. You will probably not want to name your husband as a borrower because of his credit score if you want to qualify for financing. There are several financing programs that can help youbut again its best you get your financing in place before looking at homes. You want to make sure you are lookingat homes within the price range you will qualify for. I have referenced a mortgage prequalifying calculator link that may help you get an idea of your financing possibilities.

Have a wonderful day!
0 votes Thank Flag Link Thu Nov 10, 2011
The best way is to get in touch with a mortgage broker or a financial institution, maybe your own bank if you are happy with it.
0 votes Thank Flag Link Mon Nov 7, 2011
Hi Laurie,

If your husband's credit score is too low then his income cannot be used to qualify and you would only be able to buy something using only your income to qualify.

You may want to try getting a NACA mortgage, make sure to have your Realtor sign you up or you may have to use their Realtor or your Realtor will have to give a large portion of her commission:

https://www.nacalynx.com/nacaWeb/purchase/purchaseProgram.as…

all the best,
Alma
http://www.SoldOnTampa.com
0 votes Thank Flag Link Sun Nov 6, 2011
Laurie,
You need to speak to a mortgage officer. They will check to see if your husband's credit is good enough for a mortgage. If not they can tell him what he needs to do. After checking out everything, they can tell you if you are able to purchase your first home at this time.
0 votes Thank Flag Link Sun Nov 6, 2011
Sure you can Laurie! Give me a call and I'll show you how.

Andre'
786-704-8482
0 votes Thank Flag Link Sun Nov 6, 2011
Hi Laurie,

The DTI looks a little high, but if this is your first home a mortgage broker might be able to locate a program
for you that includes a gift from local programs in your area.

Good Luck,

Ray
0 votes Thank Flag Link Sun Nov 6, 2011
Laurie,
Contact a mortgage person or your bank. Looking at all the variables, they would be able to give you the best answer. You need to know how much you can safely afford. There are loans you could qualify for would be perfect for you. Based on your credit worthiness. Based on that contact one of the agents below and hope youu find the perfect home for you.

Good Luck!

Genevieve Ramachandran
0 votes Thank Flag Link Sun Nov 6, 2011
Laury,

In that zip code is posible. Please gime a call or send a note with your tel #. I wiil help you .

Alfonso Pinzon
New York ,Florida Broker.

Cell 954 817 7883 off. 954 458 3117 pinzonal@hotmail.com
0 votes Thank Flag Link Sat Nov 5, 2011
Laury,

In that zip code is posible. Please gime a call or send a note with your tel #. I wiil help you .

Alfonso Pinzon
New York ,Florida Broker.

Cell 954 817 7883 off. 954 458 3117 pinzonal@hotmail.com
0 votes Thank Flag Link Sat Nov 5, 2011
It is possible but yo may need to be pre-qualified first.
Please give me a call I will help you i the process

Carlos Escamilla
Realty World Executive Homes
305-300-8814
Web Reference: http://www.soldbuyrent.com
0 votes Thank Flag Link Sat Nov 5, 2011
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