Home Buying in 95212>Question Details

G, Home Buyer in

can I buy a house in 95212 zip area with 5% downpayment,salary $ 4000.00 a month ,house costing around $320000

Asked by G, Fri Jun 27, 2008

how to get financing at good rate

Help the community by answering this question:


Hi G,

Aside from your income , down payment and the price of the home, the lender also has to consider your FICO score and your debt to income ratio so any lender needs further info in order to tell you whether you qualify for a loan. Please check out the FHA loan and some subsequent loans that are generous to first time homebuyers.

Good Luck,
1 vote Thank Flag Link Fri Jun 27, 2008
I would call Eli at Custom Loans at (916)487-8393. He is a loan broker and has access to several different banks and options. I have worked with him and my clients have all been pleased.
Web Reference: http://realtyaid.net/
0 votes Thank Flag Link Mon Jul 21, 2008
No, I doubt it. You might want to shop in the $250k or lower range. Check with Priscilla Taylor of Wells Fargo. She is really great and will probably be able to help you out. (209) 476-4800 Ext.1004
0 votes Thank Flag Link Wed Jul 9, 2008
No other way to say this. No. Your debt to income ratio is over allowable limits. Over half your income would be spent on your housing. And that's not taking into account any other debts you may have.

On a positive note: There are plenty of homes you can afford and you don't have to spend that much money. With 5% down you are in the driver's seat in today's market, but don't wait too long as market is rapidly changing and most properties are turning into bidding wars.

I can help you with both, finding a home and financing that home if interested. It's what I do. Call if interested in getting pre-approved - a must these days - if you are looking to buy. 16 years Better Business Bureau.


George Kininmonth
209-952-4574 (please leave a message if I'm away from my phone.)
0 votes Thank Flag Link Fri Jun 27, 2008
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