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Purchase a home

So, we saved up some cash for a new home mortgage, roughly 20k. And we're looking for a reasonably priced first home, somewhere around 200k. Do we qualify for an FHA? I have a credit of 723 (husband is 789) and we make a combined income of 65k a year. What are our options? by kelsey_734_672 from Chattanooga, Tennessee. Dec 5th 2011 Reply


William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

You make plenty of income and your scores are very good as well. So with only that information you would qualify easily. But without looking at your complete profile, it's hard to be certain. the type of income you have (commissions or hourly, or salary, or self employed), as well as how long you have been at your job, or was there a recent career change, etc... all of these things can affect whether your approved or not. Best advise i can give you is to contact a local mortgage broker, not a bank, and apply with them. they can look at your complete profile and give you a solid pre-approval. WilliamAcres.com

Dec 5th 2011
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Jonathan Cherry (jonathan)
#14 ranked lender in Tennessee - 10 contributions

Should Not be a problem getting financing. Give me a call so we can run through your scenario. 615-594-8156

Dec 5th 2011
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Brian Allen (ballen)
#43 ranked lender in Maryland - 193 contributions

Congratulations having, the discipline to follow a plan to save give you confidence in your afforabilty. FHA would be a good loan for you and I would would welcome the opportunity to contiue to walk you through the process and finance your new home. Great rates even better service I can be reached at ballen@accessnational.com

Dec 5th 2011
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Nancy J Releford (nancyreleford)
#4 ranked lender in Tennessee - 233 contributions

Kelsey, I received your email. I am a local mtg broker here in TN & have been in the industry for over 24 yrs. It slounds like you would qualify for a couple of different programs. I would love to discuss your options with you. You can send me an email with all your conact information so I can give you a call.ThanksNancy RelefordHome Equity Mtg615-8567-30601-866-450-6650 Toll Free

Dec 5th 2011
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Nancy J Releford (nancyreleford)
#4 ranked lender in Tennessee - 233 contributions

Kelsey, I received your email. I am a local mtg broker here in TN & have been in the industry for over 24 yrs. It sounds like you would qualify for a couple of different programs. I would love to discuss your options with you. You can send me an email with all your conact information so I can give you a call.ThanksNancy RelefordHome Equity Mtg 615-867-3060,1-866-450-6650 Toll Free

Dec 5th 2011
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Michael DiMarzo (mdimarzo)
#6 ranked lender in Maryland - 21 contributions

This should be enough to quailfy for the purchase of a new home. There are some factors that also will need to be answered and I would like to help with this.I have over 20 years experience in the Mortgage industry and can offer FHA lending. So give me a call and lets see what we can put together for you.Remember there is No charge to get you prequailified. 877-791-4968

Dec 5th 2011
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