Hello I am looking to purchase a condo but my income is only 35,000 a year how can I be approved for a home loan?

Asked by lhodson1@hotmail.com, Inglewood, CA Thu Aug 29, 2013

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Brian Nguyen, Mortgage Broker Or Lender, Mission Viejo, CA
Mon Feb 24, 2014
This is hard to answer completely because lenders like myself, not only look at your income but other factors as well. We look at things such as your credit score, expenses, assets, liabilities, debts, along with your income. In order to figure out if you can afford to purchase a condo it is best seek a pre-approval. A pre-approval will let you get a better idea of what you can afford once you speak with a lender as well. I have given a lot of loans through out California and I would certainly be willing to help you out as well so give me a call.

Well I hope this helps! If you have any further questions or if you need a loan, feel free to contact me. Also, if you found this helpful please leave me a recommendation if you can!

Good Luck!

Brian Nguyen Sr.
Mortgage Banker
NMLS # 659743
Phone: 949.667.2887
0 votes
Robert Chome…, , San Diego, CA
Fri Aug 30, 2013
What is the price range of house you are looking for? At that income, even with no debt, it may be a challenge unless you go far inland CA.
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James Kay, Mortgage Broker Or Lender, EL SEGUNDO, CA
Fri Aug 30, 2013
in inglewood, definitely. it will probably have to be a condo in the $150 -200k price range.
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JR Thrasher, Agent, San Diego, CA
Fri Aug 30, 2013
Sure, but are there homes for sale in your area that are affordable for your income?

J.R. Thrasher
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James Kay, Mortgage Broker Or Lender, EL SEGUNDO, CA
Fri Aug 30, 2013
Before anything, discuss your credit, capacity, collateral and character with a loan officer. This can be done on the phone. If your financial profile looks promising set up a face to face consultation (should be free) and get pre-approved by a lender specializing in first time home buyers and down payment assistance programs.
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Dawn Welch, Agent, Los Angeles, CA
Thu Aug 29, 2013
Best to start with a Loan Officer that can assist with options, which also includes First Time Buyers programs.

Best of luck
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Gregorio Den…, , San Diego, CA
Thu Aug 29, 2013
Have you applied? Meet with a loan officer and have them calculate what you can afford.
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Alexander Gr…, Agent, San Jose, CA
Thu Aug 29, 2013
I can certainly help you out there. You can call me at 408-352-5147 or email me at AGreer@themortgageoutlet.com. You can check us out at http://www.TheMortgageOutlet.com. I will look at your situation and present you with some options.

Alex Greer
NMLS #1056079
0 votes
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