Home Buying in 11432>Question Details

Dulcinea, Home Buyer in Jamaica Estates, NY

I want to apply for a 180.000 mortgage with 30.000 down and 724 credit score but last year income was 22.000 and this year 43.000 can I be approved

Asked by Dulcinea, Jamaica Estates, NY Sat Mar 3, 2012

for a mortgage with this income?

Help the community by answering this question:


Javier Meneses’ answer
What I can say is this, if you are a W-2 employee and your CURRENT income adds to about an annual $43,000, it sounds like you should be ok. I must tell you, there is much more we would need to know in order to give you a yes or no. As a loan officer, I would need to see your:

1. Picture ID
2. 2010 & 2011 tax returns (all pages)
3. 4 most recent pay stubs
4. 2 most recent bank statements
5. We would pull your credit report

These documents along with a couple questions, can get you the answer you're looking for. For the most part, a loan officer should be able to tell you right then and there if you'll qualify, and if so, what you can qualify for.

The absolute best thing for you to do is to meet face-to-face with a loan officer and allow him/her to check everything out and then go over all your options.

If you're looking for someone, I'm always available to meet in one of our Queens branches. Good luck!

Javier Meneses
Sterling National Bank
1 vote Thank Flag Link Fri May 11, 2012

Your good credit, down payment, and increase in income will definitely be helpful. I first need to understand your scenario in more detail; such as monthly debts and what you'd like your ideal monthly payment to be. When we speak I will be happy to answer all questions you may have, in addition to explaining the mortgage and home buying process in depth so we can establish proper expectations.

I recommend that we speak so I can better understand your goals and create a plan to meet them. Please don't hesitate contacting me directly via phone or email; whichever is most convenient.

Kind regards,

Paul Marzolla
Vice President
Direct: (201) 957-6768
Email: info@paulmarzolla.com

Licensed by New York Department of Financial Services
Member of NAMB - The Association of Mortgage Professionals
Member of New York Real Estate Investors Association
0 votes Thank Flag Link Wed Oct 1, 2014
I know a Direct lender that can do it for you hands down!!
0 votes Thank Flag Link Thu Sep 11, 2014
yes you can you will have to prove change in income new position new job etc shouldnt be a problem u can email me at georgemaria989@gmail.com
0 votes Thank Flag Link Fri May 11, 2012
For a personalized answer regarding qualification, do visit with any licensed loan officer; be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously. If you need recommendations, feel free to contact me directly.
0 votes Thank Flag Link Sun Mar 4, 2012
Hi Duicinea,

You need to speak to a mortgage professional regarding if you could be approved for a loan, the loan officer needs to look closely at your credit score, your recent pay stubs and your Income tax return for those two years before giving you an answer about your eligibility for a loan.

Barbara E. Nowak
0 votes Thank Flag Link Sun Mar 4, 2012
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