Is there a chance for me to get a loan?
First time to buy a home and I was referred to a lender. I want to apply for a 0% down with credit score 780 and income of $90k yearly. I have a car payment of $400 monthly and that’s it. A realtor however said that there is no chance to get a $400k home in the Massachusetts market. He referred me to a lender who can get me a loan but I need to pay 10% down. What do I choose? by Charlie292 from Monterey, Massachusetts. Apr 8th 2022
John Burke (jburke)
#27 ranked lender in Texas - 321 contributions
In a lot of markets, people are paying over asking price. Are you prepared to do that?If so, having a conventional loan at 100% financing, gives you more flexibility by allowing you to use the 10% that you would have used for a down payment to pay over asking price. Does that make sense? | John Burke | Senior Mortgage Banker | Lending in ALL 50 states |Stride Bank | jburke@stridebank.com | (877)228-9069 | NMLS# 787231 |
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