Further to vacation property question

You should not have a problem, but unless your complete profile is viewed, no one can say for sure.. stop guessing and contact a LOCAL mortgage broker and apply with them. Do not use the local "Big" bank, or one of those 50 states internet lenders or nationwide lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

It sounds like you have a very good chance of getting a home loan, but it is always safe to have you credit pulled so you can get a more definate answer. I am not sure what area in Florida you are looking, I have a good Realtor that could help you. You can contact me for any further information. Steffnie@Peoplesbankusa.com 405-445-1091 Have an awesome day.

Its sounds like you should be able to get a loan, but for how much is impossible to say. You will need to apply for a mortgage so that they can calculate your debt-to-income ratio so that you will know if you can be approved for the amount that you want.

Florida is the one market that carries increased down payment requirements compared with the other states.

Based on the information you provided you should be fine to purchase a 2nd home in Florida. If you would like me to pre-approve you for a mortgage please feel free to call me. My contact information is below. I lend in the entire State.Linda BurekFirst Choice MortgageVice President727-530-9404lindab1stchoice@hotmail.comBest Regards,Linda

I think there is a bigger picture here, Im not sure you should be buying any home until your husband is back to work. You may need the money for a safety net. Just my thoughts

Good Afternoon. I think your best option would be to explore small banks and credit unions in Florida that would be closely located to your desired purchase area. The smaller the loan size, the harder it is to get financing to be honest! Let me know how you make out with this suggestion!

Sounds good but all info will be needed to give you an accurate quote!Call us or email us at 201-962-3555 or Team@BestMortgageOption.com for ano cost no obligation analysis of your situation.Ask for Michelle or Benny We will find the Best Mortgage Option to suit your needs!You can check us out at www.BestMortgageOption.com

It really depends on the details of your application but it sounds like you shouldn't have a problem. The only issue I could see will be your debt ratio's. Your housing payment (rent) counts as part of your monthly debt. A bigger issue may be finding a lender willing to handle a $50,000 or smaller loan. You may need to check with a "bank" mortgage company as their loan officers often are paid a minimum commission regardless of the loan amount. FYI, 20% downpaymetn isnt always required for a 2nd home for a well qualified borrower, evaluate the options and decide whether you'd rather have the lower payment or less money out of pocket. Good luck!