I have a 660 credit score, been at my job for 11 years and make about 70,000 a year , how much can I get approved for

A good rule of thumb is that for conventional loans your total monthly payments should not exceed 38% of your gross monthly income. For FHA loans, it should not exceed 45%. I have funded conventional loans as high as 48% and FHA as high as 55% with strong compensating factors. A 660 score will not get you a conventional loan above about 35% with 20% down, but it will get you an FHA with 3.5% down. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ Licensed in California and Arizona ~ NMLS 40586 ~ www.LoansA2z.com ~ 888-889-9950

There's so much more to getting approved than a credit score.. We need to know how much monthly debt you have, what reasons are pushing your score down to 660.. BK?, Foreclosure? Short Sale?.. or other major derogatory credit?? A lender will need to look at your complete profile to determine if you qualify, not just a few bits of info.. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Do not use the local "Big" bank, and certainly not 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

Hello, This is not enough information to specifically say how much you qualify for. However you can get a good loan through the FHA program with your credit score, income and job stability. The FHA program will go yo a 45 % debt ratio on your new payment including principle, Interest taxes, insurance and all of your monthly debt included . Call me and I can go over the specifics with you and put you in touch with an expert on home,loans in Mas..You can be assured that they will take good care of you. Kevin Prince SVP Liberty One 858-928-8904

Hi just knowing score and income is not enough information to give an accurate approval as need to know if have any other debt that shows up on credit and so forth. Also need to know property taxes of property you are interested in? But for rough idea $ 70,000 in income year and no other debt showing on credit and that score a sales price of $ 350,000 and using an estimate of property taxes at $ 3,500 year and home insurance at about $ 1,100 year you should be okay and that would put you about 38% total debt to income so without knowing much more on you this is a safe idea just based on your income and score and nothing else. call me for more details thank you Robert Oliveira with Residential Mortgage Services.

One of the first questions I ask a customer is how much of a monthly payment will they be comfortable paying every month for their home including property taxes and homeowners insurance. Then we see if that is possible. Most of my better qualified customers can be approved for much more than they would be comfortable paying every month, while others want to push the boundaries of what they can be approved to borrow - usually because there is other income in the house which can't be counted toward qualifying for a mortgage. Other monthly payments you may have (cars, school loans, credit card payments, alimoney or child support, etc) affect the amount you can borrow.

also, it is not only a fico score number,but what is on your credit report.. also, are you married , single, pay child support? etc there are a lot of factors.. my email is yourloanpartnerforlife@live.com linda

A good rule of thumb is that for conventional loans your total monthly payments should not exceed 38% of your gross monthly income. For FHA loans, it should not exceed 45%. I have funded conventional loans as high as 48% and FHA as high as 55% with strong compensating factors. A 660 score will not get you a conventional loan above about 35% with 20% down, but it will get you an FHA with 3.5% down. ~ Feel free to give me a ring at 800 813 3291 - Andrew Alfonso

To answer your question in short, $300,000 or so if you have no monthly obligations like car payments etc. If you want to go over your situation in more detail visit our website www.thelendersnetwork.com