Home Buying in Daly City>Question Details

Melissa Hoe, Home Buyer in Daly City, CA

I have been here for more thanI a year and have only one W2 I will like to put down 60% of $500000 down will I be qualify for the mortgage?

Asked by Melissa Hoe, Daly City, CA Thu Mar 10, 2011

Help the community by answering this question:


Usually you need 2 years, but if you give me a call or an email, I will put you in touch with a few qualified mortgage professionals.


Dave Tapper
Coldwell Banker
415-370-7195 Cell
1 vote Thank Flag Link Thu Mar 10, 2011
Hello Melissa,

If you have a valid VISA and a lender can get a DU approval for one year findings, you should be ok. It is best to provide all your financial documentation to a lender to analzye and run a desktop underwriter to determine if one year findings will be acceptable. Most lenders will be ok with a DU approval with acceptable one year findings.

Michael Abram
First Capital Mortgage
NMLS #235060
Direct: (310) 434-1718
Fax: (310) 451-6407
0 votes Thank Flag Link Wed Jul 6, 2011
Hello Melissa,

As far as the loan goes, if you worked in a related field with a different employer or as an independent contractor, a good mortgage broker may be able to make it work. If for some reason you can't get approved, here are several homes that you can pay cash for and own outright:


Let me know if you have any questions about the homes or need a recommendation for a mortgage broker.


Grant Gilliam
(650) 773-3311
Web Reference: http://www.alliancemh.com
0 votes Thank Flag Link Wed Jul 6, 2011
Hi Melissa,

60 % is s good down payment. I recommend to have yourself pre-qualified first since you are putting a good down payment. I can hook you up to some lenders that i currently working on right now. It will not hurt to try to pre-qualify yourself so you would know how much you will qualify or even see what you need to do to pre-qualify. Lenders will usually help you on the steps you need to do if you don't qualify right now.

Call me if you need help in finding if you qualify.

Cristy Weglinski
Avant Properties
0 votes Thank Flag Link Fri Mar 11, 2011
If your VISA is acceptable I may be able to help you.

Happy funding, Rudi
Web Reference: http://www.umboc.com
0 votes Thank Flag Link Fri Mar 11, 2011
Hello Melissa,

You should speak to a reputable lender, maybe your bank to help you get started in this process. If they can't assist you, they might refer you to other brokers who may be able to assist.

Good luck.
0 votes Thank Flag Link Fri Mar 11, 2011
It depends. Do you have previous work history and income from where you come from? Sometimes we can use that as extenuating circumstances and still make a loan happen
0 votes Thank Flag Link Fri Mar 11, 2011
Visit with any qualified loan officer(s), after reviewing your overall financial information, credit, debt, etc., he/she can make a determination on qualification; if you don't yet qualify, your loan officer may offer great suggestions as to what needs to be done in order to qualify in the very near future....
0 votes Thank Flag Link Thu Mar 10, 2011
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