My sister and i are looking to buy this home

Asked by conelypatrick, San Diego, CA Wed Feb 27, 2013

we are looking to put 3.5-10% down, (3.5% preferably)

i am 17, she is 29, her credit score is 695

our income is about 3k a month after taxes.

how easy will it be to find a lender?

i believe we would be looking for a FHA loan, we would plan to have it paid off in about 42 months.

thank you.

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Cindy Davis, Agent, San Diego, CA
Tue Mar 19, 2013
You have some challenges not only in terms of getting approved but of buying a home in San Diego. First of all, what are your expectations? What type of home were you hoping to buy? What price range?

If you do obtain lender approval, your will find the housing market for buyers challenging at best. There are multiple offers for most homes at the lower ends of the market. Those with under 20% down are having a tough time.

I share this because you might want to consider saving more of a down payment, and paying down the balances on your accounts. With scores over 700, you will obtain better loan rates and with more money, you can bid more effectively.

Best of luck to you.
0 votes
Paul Garrett, , San Diego County, CA
Thu Feb 28, 2013
Hello I want to direct u one way with the lender I have that has been around for 80 years his name is dave with wallick and volk #951 377-3692, what makes my lender different if he's been around for a long time why others have left the business or and kept promises they couldn't commit to, when you're done with him he will send you to me to look for anything you need be careful about the lenders you make contact with and the promises they give god bless and good luck. if you need to get a hold of me my cell is 619 917-7093 for further
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David Rudd /…, Agent, San Diego, CA
Thu Feb 28, 2013
You should contact MULTIPLE lenders, especially with some of your requirements / challenges. I would recommend a local mortgage rep or broker (not online or located outside San Diego).

As an agent, I have seen one lender say no many times only to have another lender say yes. And it is not always the same lenders always saying no.

Another thing you are going to want to do is make sure you title the purchase properly (survivorship, equal ownership, tenants in common, joint tenancy etc)

Just some friendly advice.

Good Luck!
0 votes
Sinead McAll…, Agent, Oceanside, CA
Thu Feb 28, 2013
Hi Again,
I have a great lender that I can recommend that can tell you right away what you qualify for and, if you don't qualify, what steps need to be taken to get you qualified. I would be happy to assist you in any way that I can. Feel free to message me directly and we can get stared.

Sinead McAllister
McAllister Homes Real Estate
0 votes
Daniel Lehman, , San Diego County, CA
Wed Feb 27, 2013
If you are 17, you need to be emancipated, or, just have your sister go on the loan and you can go on title.

FHA is fine. 3.5% is fine. Qualifying will depend on other debt as well. If you want to know what it takes to qualify, I can help if you need me. Even if you ultimately USE someone else.
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Paul Garrett, , San Diego County, CA
Wed Feb 27, 2013
I have a lender that's been in the lend Ing business for going on 80 years that's right there one of the best,#951 377-3622
0 votes
Rashard Scott, Agent, San Diego, CA
Wed Feb 27, 2013
Your first step is to get pre-approved for a loan, which I would be happy to assist you with and then we could start looking at homes. Please feel free to contact me to get started.


Rashard Scott
Keller Williams Realty
0 votes
Ricky Silber, Agent, San Diego, CA
Wed Feb 27, 2013
Try my preferred lender Amanda Weeks at Movement Mortgage 619-756-3852. She's a pro at working loans for my clients she should be able to answer all your questions.

Ricky Silber
Keller Williams Realty
0 votes
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