ainullahhamza, Home Buyer in Shirley, NY

if my income is 40000 and my score is 620 can i buy house for 250000

Asked by ainullahhamza, Shirley, NY Mon Apr 16, 2012

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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; therefore visit with any licensed loan officer to determine qualification; there are other factors besides credit, such as income, debt, etc., that will determine eligibility for a mortgage....
1 vote Thank Flag Link Mon Apr 16, 2012
Your best best is to get in touch with a mortgage banker or office. Many can help you out of the the phone. If you would like to get some phone numbers of mortgage people whom I have had positive experience with in the past, feel free to ask. In most cases these days, the banks want about a 20% downpayment for home purchases, but you will need to confirm that with the mortgage people. Credit scores, credit history, income and a number of other factors will also need to be considered by the banks before they make a decision and/or issue a mortgage pre-approval. All the best and good luck in your search.
0 votes Thank Flag Link Tue Apr 17, 2012
I would very much so like to have those phone numbers you offering. Im 30yrs old and i would like to venture into the 1st time home buyer world but i just dont know where to start. HELP
Flag Mon Apr 23, 2012
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