Asked by H.J.Wang.Hunter, San Diego, CA • Wed Apr 11, 2012
Hello Loan Officer,
I hope you can help me with getting a better mortgage loan. Here is the overview of my current credit situation:
Credit Score: 700
Credit History: 10 Month
Employment History: 9 Month
California Residence: 5 years
Immigration Status: Student (F-1)
My goal is to purchase 3 to 4 small-size condo at about 70K each, or about 300K combined. One of them will be the home of my own in San Diego, and the other ones will be the investment properties in San Diego or Los Angeles county.
By the end of this month I will have about 110K dollars cash available. Due to my credit situation, my current lender requires at down payment of at least 40% for private residence, and 30% for investment with a relatively high interest rate. It also sets the limitation on the total budget (250K to 300K). However, if you have any resources to obtain a loans with lower down payments and lower interest, please feel free to contact them to me.
Thanks again for your expertise.
Real Estate in San Diego
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