Home Buying in San Diego>Question Details

Marvin Sutton, Home Buyer in San Diego, CA

Hi.... I have 740 credit score on expertise, how much is my pre approve loan

Asked by Marvin Sutton, San Diego, CA Fri Aug 23, 2013

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23
Sinead McAllister’s answer
Hi Marvin,
Preapproval will not just be based on your credit score. The lender will take into consideration your income and your debit to analyze how much you qualify for. If you need a referral for a really great lender, message me directly using the information below and we get started right away!

Thanks!
​Sinead McAllister-Clifford
Real Estate Broker/ Realtor®
Trulia®'s #1 Recommended Broker in Oceanside, Cardiff, Bonsall & Vista!
McAllister Homes Real Estate
Residential Sales & Property Management
http://www.McAllisterHomes.com
License 01366009
858-205-5215 CELL
info@mcallisterhomes.com EMAIL
0 votes Thank Flag Link Fri Aug 23, 2013
You can get a million dollar loan if you make enough money to pay it back. Click the link in the web reference below for a list of million dollar homes in San Diego.

J.R. Thrasher
http://www.SanDiegoRealEstateVeterans.com
619-929-0105
2 votes Thank Flag Link Sun Aug 25, 2013
Marvin,

Congratulations on a great credit score! This score will be taking into account by your lender when qualifying for a loan. There are some great loan programs out there that I'd like to talk to you about. Call me to discuss at 619-200-5545. Thank you!

Richelle Szczygiel
Alliance Group
BRE #01447519
richelle@richellerealty.com
619-200-5545
2 votes Thank Flag Link Fri Aug 23, 2013
Hello Marvin,

A lender will take into account your credit score, regular income, down payment percentage, property value, previous short sales, forclosures, bankruptcies, etc in evaluating your pre-approval. Get in touch with me to connect you with a lender that can get you pre-approved for a home that's right for you.

Best Regards,

Media Fettinger
Realtor
Century 21 Award
MFettinger@century21award.com
2 votes Thank Flag Link Fri Aug 23, 2013
Obviously, loan amounts, fees and interest rates vary depending on the lender. Other considerations in the loan-approval process are ability to repay the loan and verifiable long-term employment (two or more years in the same industry/company). If you are approved for say, a $500,000 loan, you can expect to pay approximately 4.56% APR and $2,551 monthly. These are merely estimates, though, and you should speak to one of our real-estate professionals to explore all the options available to you. Please contact us for more information: http://www.globenetrealty.com. Or call 714.988.8399.
1 vote Thank Flag Link Thu Aug 29, 2013
Your pre-approval is based on your debt to income ratio, not just the credit score. You will have to complete a loan application and get your credit pulled to figure out how much you'd get pre-approved for.

Contact me through my profile if you'd like help. Thanks!
1 vote Thank Flag Link Mon Aug 26, 2013
Hi Marvin,

Great FICO score! There are a few other factors involved in the pre approval process. Contact me and I will get you set up with an appointment with one of my trained professionals. I look forward to working with you! "There is no better time than now!"

Thanks!

Valerie Wengeler
Realtor BRE LIC# 01934056
6193099342
Valerie@AllianceGroupRE.com
1 vote Thank Flag Link Sun Aug 25, 2013
Congrats Marvin on your Great FICO score !! Please Contact me at maureen@landangel.com or 760 622 6855 and let's find you your dream loan and home today,
Once we can start the loan and home process, we can go shopping for your new, exciting home with your pre-approval letter in hand!!
I'll prepare and submit offers, contract on your home on interest, obtain final loan approval, open and close escrow, I will happily give you your house keys!!
No more rental payments to your landlord to pay his own monthly mortgage payment with your hard-earned money!
You can use your own lender or mine.. Mine is an established, local, direct Lender who is HELPFUL, quick and easy for you to gain a current lenders pre-approval letter based upon your sterling credit, debt to income ratio and employment verification, etc.
Let's make home happen.
Web Reference: http://www.coastal.biz
1 vote Thank Flag Link Sat Aug 24, 2013
hi Marvin,
First of all, congratulation on your very good credit score. I used to be a lender, but nowadays your credit score is not as important as your debt to income ratio & assets. As we have learned in the past, it is very simple to manipulate credit scores with good habits and tricks.

My preferred lender can approve you for 50% debt to income ratio. Say you make 4k a month, that means your total monthly obligations (principal & interest, home insurance, property taxes, credit card payment(s), loan payment(s), etc.) cannot exceed 2k per month. In most cases, they will average the previous 2 years plus the current year to date income... however, if you have received a recent raise, there is room for the underwriter to be open minded and give you the higher income, and you can usually achieve this with compensating factors.

If you are not already working with a Realtor, I'd love to talk to you to see if we are going to be a match. 3 things can happen, 1. We connect and work together, 2. I like you, but you go in separate directions or 3. You like me, but I decide not to take you as my client. Either way, I would like to entertain the possibility if you contact me.

Hector R. Gastelum
Realty Executives Dillon
REALTOR #01382940
hectorgastelum@yahoo.com
619-954-2225
efax 619-270-2516
1 vote Thank Flag Link Sat Aug 24, 2013
In order to get pre-approved for a mortgage, you will have to make full mortgage application. This includes but not limited to providing all your financial information, having your scores run with the 3 main credit bureaus and applying for a particular type of loan with a defined mortgage amount and anticipated purchase price. In CT, the mortgage lenders I work with will use the middle credit score of your 3 scores to determine the mortgage pricing scenarios for the type of loan you seek. Speak to a licensed mortgage originator in your area to start the process. Good luck.
1 vote Thank Flag Link Fri Aug 23, 2013
Your score is just one component of how much of a loan you qualify for. You need to speak to a mortgage lender and complet an application to get a good estimate. They should also supply you with a pre-approval letter so when you find a home you want to buy, you will be ready to put in an offer.
1 vote Thank Flag Link Fri Aug 23, 2013
Getting a pre-approval is more than just having a credit score. You need to speak with a mortgage lender directly, complete an application, and then the lender will give you an idea of what you're pre-approved for. In addition to credit scores, lenders look at income, assets, and debts.

You've been offered assistance by many of my colleagues...Pick a lender and start the process!

When you are ready for a Realtor to go home shopping, I'd love to help you.
1 vote Thank Flag Link Fri Aug 23, 2013
Pre approval isn't just based on credit scores it also includes, provable income, debt to income ratios and so much more a good lender, like Jeff Brick, at Amerifirst can talk you through the process
858-324-4448
1 vote Thank Flag Link Fri Aug 23, 2013
Marvin, your pre-approval depends on not just your credit but also your income and assets. It's best to speak with a Loan Officer and allow them to review all necessary documents. This is the way you know for sure just what you qualify for and what your options are.

I would be more than happy to help you. Feel free to call or email me anytime. Good luck!

If my response was helpful, consider clicking BEST ANSWER!

Javier Meneses
Senior Loan Officer
NMLS #23130
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
jmeneses@snb.com
(516) 606-9648 Cell
(516) 740-4478 Office
(516) 918-5383 Fax
1 vote Thank Flag Link Fri Aug 23, 2013
Hi Marvin,
In order to answer your question we would need to calc the income and expenses.
Once we have that info...then we can calculate your maximum loan amount.
Sincerely,
Mike Disney
619-204-8564 cell/text
1 vote Thank Flag Link Fri Aug 23, 2013
Hi Marvin,

Feel free to give me a call and we can discuss the pre-approval process and your real estate needs further. I would love for the opportunity to assist you with getting approved and finding the perfect home! Thank you for your time and I look forward to hearing from you soon.

Sincerely,

Rashard Scott
RBD Residential Group
REALTOR®
Phone: 619-565-3604
Fax: 619-342-3332
Email: scottie1421@gmail.com
Website: http://www.militaryhomesinsandiego.com

CA BRE# 01703306
1 vote Thank Flag Link Fri Aug 23, 2013
Hi Marvin,

Pre approval will also depend on your income.

I can connect you with very good team of Wells Fargo bank that can help you pre approve.

Let me if you would like there information my email and phone is below.

Regards

Jain Rishab
Realtor
RE/MAX Active Realty.
Short Sale And Foreclosure Resource
Phone: (510) 676-4770
Email:korerealty1@gmail.com
1 vote Thank Flag Link Fri Aug 23, 2013
Hi Marvin,

your credit score is only one aspect in the qualification process. Don't get me wrong, its important! It will almost get you the top tier pricing with most lenders. BUT what will primarily shape how much you are preapproved for is your income and your debts. And what ever you do, don't let everyone here pull your credit!! Interview your loan officer for the job of helping you, pick one and roll with it.
1 vote Thank Flag Link Fri Aug 23, 2013
Hi Marvin,

First, we think you mean Experion, which is one of the three credit scoring agencies.

There is not sufficient information and you should not post it here.

Lastly, an agent cannot supply what you are looking for, call 3 lenders and give them your information to get what you are seeking.

We recommend Glenda Meyer at The Lending Company. She can be reached at http://sandiegohomeloans4u.com/

Best of luck, let us know if we can assist with your purchase once you know what you can afford.

Thanks much,

Mark & Kari Shea
Shea Real Estate
National Association of Realtors
CA DRE License 01713506
1 vote Thank Flag Link Fri Aug 23, 2013
Hi Marvin,

Your credit score is just a small portion of qualifying for a home loan. What even more important is how much income you have, how reliable that income is, and how much debt obligation you have. All these factors taken together will determine how much of a loan you can qualify for.

If you would like to begin the application process, check out: http://roycekemp.com/apply-for-a-home-loan
1 vote Thank Flag Link Fri Aug 23, 2013
Having a 740 credit score is great to purchase a property. But the process starts with what would you like to buy, where would you like to buy and what income you have, what loan program do you want.. And much more. I have a great lender I can recommend to you.

Brett Jerhoff
Mortgage Banker

RPM | MORTGAGE
2187 Newcastle Drive #201
Cardiff By The Sea, CA 92007
Direct: 858.345.5601x2145
Cell: 619.847.6196
Fax: 866.842.7866 (efax) nmls 307368
email: bjerhoff@rpm-mtg.com
http://www.rpm-mtg.com/bjerhoff

He is able to cover your closing costs while offering an exceptional rate. Once you have the preapproval notice for the amount of the loan I can help you to locate the property that you are looking for.. Just in case if you are interested my phone is 619-977-4929 and email is dimaps@gmail.com
1 vote Thank Flag Link Fri Aug 23, 2013
I can certainly help you out there. You can call me at 408-352-5147 or email me at AGreer@themortgageoutlet.com. You can check us out at http://www.TheMortgageOutlet.com. I will look at your situation and present you with some options.

Alex Greer
NMLS #1056079
1 vote Thank Flag Link Fri Aug 23, 2013
If you are curious of how much you can afford, feel free to call me so I can help get you an accurate estimate. I will gladly take a call to let you know how much you would be able to borrow.

If you have any further questions or if you need a loan, feel free to contact me. Also, if you found this helpful please leave me a recommendation if you can!

Good Luck!

Brian Nguyen
Sr. Mortgage Banker
NMLS # 659743
Phone: 949.667.2887
brian.nguyen@nafinc.com
0 votes Thank Flag Link Mon Feb 24, 2014
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