Posted on: 27th Dec, 2012 11:48 am
Hi
The basics of my situation I can prove employment for 3 years alltho only 1.5 has been the most recent employer. My credit score is supposedly in the mid to high 700s recently got one site that said 805. I currently pay 845 in rent. I live in upstate NY near Albany county
I'm starting to look into buying a home because I will be in the area for a number of years and I'd love to stop renting. But I have no idea what kind of total cost a loan on say a 120k house would cost.
The basics of my situation I can prove employment for 3 years alltho only 1.5 has been the most recent employer. My credit score is supposedly in the mid to high 700s recently got one site that said 805. I currently pay 845 in rent. I live in upstate NY near Albany county
I'm starting to look into buying a home because I will be in the area for a number of years and I'd love to stop renting. But I have no idea what kind of total cost a loan on say a 120k house would cost.
Have you been in the same line of work for the past 2 years? What do you make a month? Are you a W2 employee or a 1099 contractor? How much debt are you carrying? How many active tradelines do you have? How much of a down payment do you plan on putting down? Feel free to contact us we lend in NY and would be happy to answer your mortgage questions and give you an idea on what is involved in the process. In the meantime, feel free to visit our website and play with the various caluclators to determine what you might be able to afford.
Same line of work for 2 years was doing temp work in IT for the past year and a half it was been with a full time company. Always been W2. Debt free. No idea what tradelines are. And looking to put down the 3% down payment.
Hi gollbrian,
Tradelines mean other active accounts that are listed on your credit report. It can be a credit card or other unsecured or secured loans. Moreover, if you're paying 3% down, then it will be easier for you to get a FHA loan. For conventional loans, you need to provide 20% down payment.
Tradelines mean other active accounts that are listed on your credit report. It can be a credit card or other unsecured or secured loans. Moreover, if you're paying 3% down, then it will be easier for you to get a FHA loan. For conventional loans, you need to provide 20% down payment.
Given your credit score, employment records and down payment capability, you are mostly likely to become eligible for an FHA loan. Try to find out a suitable lender in your area which offers FHA loans.
Gollbrian;
Based on the information provided, you should be able to qualify for an FHA loan. I would be happy to pre-qualify you.
Best Regards;
Dmitriy Bleynis
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Based on the information provided, you should be able to qualify for an FHA loan. I would be happy to pre-qualify you.
Best Regards;
Dmitriy Bleynis
[Promotional content deleted as per forum rules. Thanks.]