Home Buying in Long Beach>Question Details

marcoslbc, Real Estate Pro in Long Beach, CA

if i want a loan of a 350k how much do i have to make.and what is the limit to be approve for fha,,chdpa frist time buyer program.please A, THX

Asked by marcoslbc, Long Beach, CA Sun Jan 5, 2014

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I'd like to recommend a Lender in the Long Beach area that specializes in Down Payment Assistance programs. This lender is good and has helped me with many clients that needed down payment or closing cost assistance. He can answer your questions and put you on the right path to home ownership.

Curt Nix-I Mortgage
3780 Kilroy Airport Way Ste #820
Long Beach, Ca. 90806
562-257-5006 Direct
Curt.nix@imortgage.com

All the best,

Alex Montelongo/Broker
Coldwell Banker Star Realty
562-810-7387 Cell
BRE Lic #01456982
0 votes Thank Flag Link Mon Jan 6, 2014
You would need to make about 80k which is about $6,700 monthly but there is more to the equation to qualify. It only takes a few dozen questions to qualify and go over your options. It will be determined by your credit profile, debt to income ratios, fico scores and how much you want to invest into the down payment and closing costs. There are two down payment assistance programs which each have there own maximum income limits.

You would need a minimum 580 fico score to qualify for Access .5% half percent down payment program and minimum 640 fico score to qualify for CHDAP .5% half percent down payment program. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

Here are some blogs to study and compare.

http://www.trulia.com/blog/under640ficoscoreloans/2013/01/fi…

http://www.trulia.com/blog/under640ficoscoreloans/2013/01/wh…

http://www.trulia.com/blog/under640ficoscoreloans/2012/12/ar…

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
20+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 7pm Monday thru Saturday, Sundays by appt.
http://youtu.be/MrygA2_8fAY
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0 votes Thank Flag Link Mon Jan 6, 2014
The correct way to figure this out is like they said. You need to speak with a loan officer/lender. I have worked numerous CHDAP deals and actually advertise my expertise in it. If you want help with your first time buying experience I would be glad to share my knowledge and services.

Best Regards,
Anthony Revels Jr, Realtor
Nationwide Real Estate Executives
(562) 719-3265 CELL
(562) 423-8134 OFFICE
(714) 947-1437 FAX
BRE# 01937403
http://www.revelsrealtysearch.com
0 votes Thank Flag Link Mon Jan 6, 2014
Hi, your first step is to talk with a mortgage lender. This is going to be an amazing journey for you and if I can assist you in finding the perfect home, I would be honored. Becoming a homeowner is a great giant leap into your future! I am happy to help

Call or email me
Sara Joy Cramer
Realtor with Realty ONE Group
562-308-6266
"Allowing Mother's Intuition to Guide YOU Home!"
# 01889507
Proud Member of Orange County Association of Realtors
0 votes Thank Flag Link Sun Jan 5, 2014
The correct way (legal way) to go about this is to have a loan officer look at all of your documentation and then qualify you for a loan amount. Not the other way around.

Alex Greer
Loan Officer
NMLS #1056079
http://www.TheMortgageOutlet.com

408-352-5147
AGreer@TheMortgageOutlet.com
0 votes Thank Flag Link Sun Jan 5, 2014
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