Christo1374, Home Buyer in Aurora, IL

I have a 780 credit score, no debt, gross income is 45k and 50k for a down payment.. How much can I get approved for on a mortgage?

Asked by Christo1374, Aurora, IL Fri Mar 8, 2013

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Bill J Delig…, Agent, Naperville, IL
Wed Apr 3, 2013
Greetings Christo,

Your credit, debts, income and amount of down payment will determine how much you qualify for. I am a lender and our company is based in Aurora, Feel free to contact me if you have any questions.
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0 votes
Aj Rodriguez, Home Buyer, Pittsburgh, PA
Mon Mar 25, 2013
the amount you get approved for depends on your debt to income ratio. I believe the fha guideline is 38% debt to income. so if you make 100k a year you can have a total amount of all debts (including new mortgage payment) in the amount of 38k per year or 3166 in total debts per month
0 votes
Hello, , Leipsic, OH
Thu Mar 14, 2013
Google a mortgage calculator or call a lender.
0 votes
Edith Karoli…, Agent, Winnetka, IL
Thu Mar 14, 2013
Discuss your status with a reputable area lender, just sit down and talk, everything sounds quite good
they will also look at any other responsibilities you may have and they will want proof of your income
and different lenders have different requirements and you may qualify for other loan options, so unless you sit down with a reputable local loan officer face to face, you will not know exactly, also make sure
you do not overload yourself, stay in a comfort zone, even if the lender will allow you to borrow more,
Before discussing numbers with the lender, also look at your current expenses per month and see what
would be a reasonable amount to pay for a loan and taxes instead of paying rent...

Stay within safe and manageable ranges.
Good Luck to you
Good Luck to you

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0 votes
Nicole & Tony…, Agent, Naperville, IL
Sat Mar 9, 2013
You need to speak with a lender. From day to day, week to week, and month to month they will have different rates and programs. The typical Realtor won't be able to give you as good of an answer as a loan officer could. We do give excellent referrals.
0 votes
Patty Harris…, Mortgage Broker Or Lender, Naperville, IL
Fri Mar 8, 2013

I would need a litttle more information to let you know what you would qualify for. Please visit my website or send me an email at and I would be happy prequalify you.

Best regards,

Patty Harrison
Smart Mortgage Center
0 votes
Evelyn Santi…, Agent, Oswego, IL
Fri Mar 8, 2013
Like my collegue mentioned a mortgage person is the best one to answer that question since you also need to have some credit history. Believe it or not some debt is actually good - banks want to know how you handle credit. I have several loan originators that I can recommend, the top one is Gene Mundt. You can go to his website at Getting approved sometimes is the easy part. Finding a lender that you can rely to close the transaction is even more important and I know that Gene or any of my other 2 lenders can do the job.

Getting pre-approval is vital in today's market. Once that is taken care of you will have a price range you can give the agent that you decide to work with which will make it much easier to target the right home for yourself. Good luck!
0 votes
I have a credit cards which I use regularly but also pay off regularly. I had student loans that I paid off and also a brand new $24000.00 car paid off in less than 5 years. Bought my first house 8 years ago had it for 7 then sold it at a profit to move closer to work.
Flag Fri Mar 8, 2013
Mike Cluck, Agent, Geneva, IL
Fri Mar 8, 2013
I would suggest you ask a professional lender that question. I can recommend you to First Centennial Mortgage, Linda Koehling, 630-806-2101 or email her at
She can answer these questions for you. If once you get pre-approved you would like to look at homes, let me know what your price range is and what area you are interested in and I will send you homes to look at. Thank you, Mike
0 votes
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