Posted on: 17th Aug, 2009 10:05 am
Hi,
I earn 85K yearly and have a 720 credit score. I am a permanent employee.
I have found a house that is 560K.
I can put down 20 %.
Will the bank give me a loan for this amount?
i.e. the total loan including closing is 5,60,000 I can put down 20 % ( can go up to 1,30,000). Do you think the bank will consider my application?
I heard the banks are quite strict in lending these days.
Tnx
Richard
I earn 85K yearly and have a 720 credit score. I am a permanent employee.
I have found a house that is 560K.
I can put down 20 %.
Will the bank give me a loan for this amount?
i.e. the total loan including closing is 5,60,000 I can put down 20 % ( can go up to 1,30,000). Do you think the bank will consider my application?
I heard the banks are quite strict in lending these days.
Tnx
Richard
things definitely are far more strict than in the past. you didn't mention the annual tab for taxes on this property, but i surmise that your income is insufficient to qualify for this home.
I send you a personal message in regards to your question...did you receive it?
I did get your mssg and had accidentally removed could you re-send it to me.
Tnx
Richard
Tnx
Richard
I just resent it
Please confirm receipt
Please confirm receipt
Rule of thumb, the value of the house you buy should not exceed 3 to 4 times your annual income.
I got your pvt mssg.
Tnx
Michael
Tnx
Michael