Your credit score is good. You can close and handle the mortgage for $400k as you are earning $90k total. I will hazard a guess and say that your inrerest rate may be 5.20 - 5.5% no more.

Itsounds has if you are doing your homework. Great job!
I would be more then happy to help you get to the next steps.
Let me known what you think.
If you have additional questions, please direct them
to me or need an agent feel free to call. My Direct # 347-813-1290.
Here is my website http://fajardodelacruz.realtors.officelive.com
or my e-mail delacruz.fajardo3@gmail.com
Hope to hear from you soon.

It is a great time to buy your first home. You should be eligible for the $ 8000 First Time Home Buyers Tax Credit if you close by November 30.

Your lender is the one in the position to give you the rates. They are dependent on so many factors.

Since your credit is so good you probably do not need a mortgage broker - start with the bank you do your banking at and go from there. Be sure to get rates and fees from more than one lender. Remember, you are shopping for money.

This link will give you a lot of infomation on the $ 800 Tax Credit and Home Buying: http://findyourhomeli.com/buyersellerinfo

If I can be of any assistance, please do not hesitate to contact me, I am in your area.

Good luck!

Donna Galinsky
Pugatch Realty Corp
dgalinsky@pugatch.com
516-317-9253

When you reach out to a mortgage broker/lender, don't go for a pre-qual...it's not enough.

As for a full LENDER Pre-approval with only two contingencies...Contract & Appraisal.

This will put you in the same class as a cash buyer and get you the most consideration. Have ready your past tax returns (probably 3 years), pay stubs, etc. It's worth it!

Direct your question to any qualified loan officer, see exactly what your budget can handle--you will need a mortgage pre-qualification anyway before you even begin shopping--keep in mind you need to be prepared so that when you see that perfect house, you will be ready make that offer. If you need assistance feel free to call or e-mail.

Anna
917-576-5376
abrocco@laffey.com

Trust me when I say this,Look into your future. Are you going to have children? Do you like to travel?Have you thought about upkeep? My rule of thumb is,always try to put down 20% and by all means,,finance 15 yrs not 30. Don't get stuck in the house poor rutt that most of America is in... Injoy your life ! http://www.youtube.com/watch?v=N0qOSDwejVY

If you found a home today, you could probably expect a 30 yr fixed rate in the 5.25-5.75% range. However, shopping rates now doesn't do you much good because you can't lock in a rate until you have a purchase agreement.

Do yourself a favor and interview 2 or 3 loan officers who come from a reputable lender and get quotes from all of them. What you will likely find is that they are probably all pretty close in rates and fees unless someone is just trying to low ball things because they know you can't lock in today (shady by the way). Once you come to the realization that most reputable lenders are about the same you can make your decision on who you work with based on your comfort level and the level of service they can provide you. Trust me you'll sleep a lot better at night and it will save you lots of time and headache

Best of luck

Your credit scores are in a very positive range. In addition, your mortgage amount would be under the maximum amount of $417,000 which means it would not be necessary to obtain a jumbo loan. That would keep your interest rate lower. There are a couple of routes you can take in applying for a mortgage which I would gladly review with you as well as the tax credit that you may be eligible for. Please call me anytime on my cell phone 516-509-5069 and I will be happy to assist you.

You sound like very qualified buyers. I specialize as a buyer broker for first time home buyers who could represent you in the purchase of your first home. Call me directly and we could discuss all your options at length.

Regards,
Tania Hopkins
917-282-7716