Making 46 000 dollars a year is enough to get approve for a home loan ?

Asked by Bernardino Rodriguez, Sylmar, CA Mon Oct 21, 2013

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Jamie Tian, Agent, Los Angeles, CA
Mon Oct 21, 2013

It depends on your credit history, employment history, and how much down payment you have prepared.

The best way to find out how much you can be approved for is to contact any bank, credit union, or mortgage broker to get pre-approved for a loan. It is free and there is no obligation to use the lender that you get preapproved with.

I would be happy to recommend a few lenders to you that would be able to help you out, and help you get started on your home search after you get preapproved.

Feel free to contact me directly at (310) 717-1321 or


Jamie Tian
Rodeo Realty
(310) 717-1321
BRE #01920120
Web Reference:  Http://
1 vote
Sheryl Arndt, Mortgage Broker Or Lender, Woodland Hills, CA
Sat Apr 18, 2015
Hello velasqueslinda57, yes that should be enough to qualify in the 91342 zip code of Sylmar as the home prices are still low. Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, home price, loan program and how much you want to invest into the down payment and closing costs.

The purchase in 91342 zip code of Sylmar start from 78k for 3bd 2ba single family home which is as low as $400 down payment with a minimum 580 fico score. If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve you can be emailed listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

You may qualify to buy FHA with fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down or as low as .5% half percent down payment program. You may consider 3% down conventional from a minimum 620 fico score. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

You will need to be pre-approved if you decide to buy to be able to meet an agent to view and submit offers on any homes of your choice. It only takes a few dozen questions to qualify, go over your options and email you listings to study and compare. Here are some links to study as well as web reference links to many loan program pages offered...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
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0 votes
Brian Nguyen, Mortgage Broker Or Lender, Mission Viejo, CA
Fri Feb 14, 2014
Yes, it is possible to get approved for a loan with your income. It is also important to keep in mind that your ability to obtain a loan does not solely rely on your income, but on other factors as well. These factors include your credit score, expenses, assets, liabilities, debt, down payment, employment, as well as income. All of these aspects of your finances will be looked at by a lender. Either way, the most efficient thing for you to do is to speak with a lender directly. Lenders like myself would be glad to speak with you to help you get the loan that you need. Well if you have any other questions or need a loan please contact me through the information on my profile page. I hope this helps and good luck! Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887
0 votes
Bradley Neum…, Mortgage Broker Or Lender, Franklin, TN
Fri Oct 25, 2013
It depends on how much you are looking to purchase but i have done loans with less income, so YES we can do it. Call or email for a free pre-approval and free credit report.

We can do: FHA, Conventional, USDA, VA, HARP, Interest Only, Home Equity, Fixed, and Variable. Find out which product is right for you by calling Brad at (630) 639-1081.

Brad Neumann
Sr. Loan Officer
Toll Free: (855) 415-5626 ext. 5734
0 votes
Claudia Mull…, Mortgage Broker Or Lender, Fremont, CA
Tue Oct 22, 2013
Income is one piece for the loan approval process.
You must have acceptable credit quality.
Your monthly obligations to car payments, credit cards, etc must be calculated into your overall qualifying components.
Lastly, we would need to know how much you are intending to utilize for down payment.

Help us to help you and give us more info:

-down payment
-monthly obligations (car, credit cards, child support, etc)
-quality of credit (any collections, bankruptcy, etc)
0 votes
Alexander Gr…, Agent, San Jose, CA
Mon Oct 21, 2013
Yes. You can email me or give me a call to find out how much.

Alex Greer
Loan Officer
NMLS #1056079

0 votes
Jim Cramer, Agent, Waynesboro, PA
Mon Oct 21, 2013
Yes, but the rest of the story has to do with your credit score and your DTI ratios. Contact a local lender in your area to see what you might qualify for to purchase a home.
0 votes
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