Home Buying in Turlock>Question Details

Vcampos, Home Buyer in Turlock, CA

We foreclosed 3 years ago. Looking to buy in Turlock. Can we get a loan approved for $140k less? We pay about $1,300 rent now for the past 3 years

Asked by Vcampos, Turlock, CA Tue Jun 19, 2012

Help the community by answering this question:



Thanks for your question....It is possible that you can be approved for a loan, possibly an FHA. It will all depend on what your credit report says and what a lender can do with it. Your best place to start would be a good local lender. I can give you a few recommendations on good lender contacts who will be able to help you out.

Send me an email or give me a call at your convenience and I'll get you set up. Once you have your answer, we can also help you in the home search process. Just so you have an idea, this link will take you to a list of all current homes available throughout Turlock at the $140,000 and under range.


Let me know how I can help.


Adam C Dalton, Realtor
DRE Lic# 01490808
Century 21 M&M and Associates - Turlock

Search for homes at http://(www.adalton.c21mm.com)
0 votes Thank Flag Link Tue Jun 19, 2012
If your credit clears, you may be eligible for a FHA loan, 3.5% down with PMI. Not a bad deal. Your closing costs will likely run another 3-4% so you'll need 7-7.5% to close. This would be less if you can negotiate closing costs into the contract. Let me know if I can help further. -Adam
Flag Wed Jun 20, 2012
Thanks for the info. Not sure on our credit score I have not checked. We had 2 car loans, paid one off earlier this year. We have about $12K saved
Flag Tue Jun 19, 2012
If it has been over three years ago since your foreclosure you may be able to qualify for a loan depending on your existing income, debt load and credit score. If you have not already, consult with an experienced mortgage lending professional to determine what steps you need take in order to obtain a pre-approval. Please feel free to call or email anytime if you have questions.


Jason Alves, REALTOR
(209) 499-7962
DRE #01810673
0 votes Thank Flag Link Tue Jun 19, 2012
Thanks. I have not checked credit. Current income about $100K debt a few CCards and 1 car payment. No other loans. have about $$ saved.
Flag Tue Jun 19, 2012
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