Can I Buy a 3/2 home in west Valley with 610 credit and 10k down w/80k salary?

Asked by Seekerofdeals, San Fernando, CA Sun May 31, 2009

please let me know what vehicles are avail to me ...... forclosures, short sales, assumed mortgage, first time credits, what would be my BEST BET and what would make it happen?

Help the community by answering this question:

+ web reference
Web reference:

Answers

2
Brittany Sanchez’s answer
Brittany San…, Home Buyer, 91204
Mon Jun 29, 2009
FHA is your best bet - you would only need 3.5% down and you would need additional cash for the closing costs or try to get the sellers to pay closing costs (harder in this market when most of the sellers are banks).

That salary is more than enough - although it depends what exact area you want to be in - how many bedrooms, square feet, etc. I'm buying a 3bd/bth in San Fernando but I make around 50k and was approved for a little over 200k.. You should be able to get around 300k depending on your other debts, etc. and this should be enough for some areas like Northridge, Reseda, etc.
0 votes
M.D.J, , Los Angeles, CA
Mon Jun 1, 2009
The first step is making sure you would qualify with a 610 credit score then finding out up to what loan amount before starting your home search.

Good luck.
0 votes
Search Advice
Search
Ask our community a question
Home Buying in Popular San Fernando Neighborhoods

Email me when…

Learn more