Jesus, Home Buyer in El Paso, TX

What income bracket do you need to be in order to qualify to purchase a home?

Asked by Jesus, El Paso, TX Fri Dec 9, 2011

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Answers

4
Howdy Jesus
Income bracket is not the determining factor, but credit is. Most important is to find a home that you are comfortable with the payments. Majority of credit issues are easily repaired.

So while you may qualify for a million dollar home but not sure you would like those payments. This is joking!

So the question is back to you, what do you want for a monthly payment?

Wishes for wonderful Holidays!
Web Reference: http://www.ephomesearch.com
1 vote Thank Flag Link Mon Dec 12, 2011
It is more about credit rating then income. Speak to a lender who can guide you into a price range you may qualify. Then look for a home you quallify for.
Good Luck
1 vote Thank Flag Link Sat Dec 10, 2011
It's not a matter of income bracket, rather it is a question of whether or not you can afford to pay the monthly mortgage payment and whether you have a history of paying your bills in full and on time. The best thing you could do is talk to a mortgage banker. They will be able to tell you whether you qualify and for how much. Even if you ddo not qualify today, most loan officers will be glad to help you repair any issues so that you CAN qualify at some time in the not so distant future. If you don't know a mortgage banker, call a local realtor and ask to be referred to one. They will be glad to help you in hopes tht when you are ready to buy you will use them as your real estate agent.
1 vote Thank Flag Link Fri Dec 9, 2011
The guidelines:
• 580 Platform
• 3-tradelines
• we also recognize alternative trade lines
• less overlays
• in house funding, processing and underwriting
• 620 credit on conventional
• 47% DTI ratio
• 3.5% down payment
• close the average loan for Refi /new purchase in 21 days

Donna Bush
marketing director
R.H. Lending, Inc.
6209 Colleyville BLVD
Colleyville, TX 76034
Branch NMLS: 965158
E-mail: dbush@rhlending.com
Direct line:214-935-8781
Cell/text (214)695-8883
Web: http://www.rhlend.com

For an immediate Pre-Qualification of potential buyers, please see LINK below to fill out an application via our Secure Website:
NOTE: Once a barrower/client is pre-approved, The letter is only good for 60 days



http://www.rhlapps.com/dbush
0 votes Thank Flag Link Mon Dec 10, 2012
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