Posted on: 20th Jul, 2010 03:11 am
I would like to get some advice on getting a mortgage. I have good income ($330,000 annually) but have saved very little for down payment ($80,000). Although I could wait another year and probably save 100,000 more, I am afraid of missing the currently low market. On the other hand, I do not want to settle for a house that is below my expectations and I would really like to get something in the order of 1 million. I have no debt and it would be easy for me to make the monthly payments. Does anybody have any suggestions on the best way to proceed?
Thank you
Thank you
Typically need at least a 20% down payment for mortgages for mortgages that size.
You may get better answer if you note state and county in which the property would be located, at least the state. There are many local programs that only local lenders would know about.
You may be able to get a seller to hold the mortgage. Sellers may lend to whomever they want to lend.
You may get better answer if you note state and county in which the property would be located, at least the state. There are many local programs that only local lenders would know about.
You may be able to get a seller to hold the mortgage. Sellers may lend to whomever they want to lend.