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mortgage question

my fico score is 725 and my wife is 600.we can put 50% down and total monthly income is 4775 . can we get a mortgage for 120000? by Fidel.Perrera813 from Andover, New Jersey. Dec 10th 2013 Reply


Dave Metsker (DaveMetsker)
#36 ranked lender in Oregon - 2,318 contributions

Yes, depending on your other debts.

Dec 10th 2013
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Timothy Ford (timford)
#121 ranked lender in New Jersey - 1 contribution

Hi Fidel, yes you can obtain a mortgage for $120k as long as your debts are not excessive. You may contact me at tford@intercountymortgage.com if you would like to discuss further. Thank you. Tim

Dec 10th 2013
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Jamie Lynne (nationwidelenderforyou)
#139 ranked lender in Texas - 576 contributions

We would base the rate off the person who has the lower middle score, but it can be done. Let's discuss your loan scenario in more detail. Contact us at 800 315 8803 or 973 979 4100. We are happy to answer your mortgage questions, 7 days a week and review your loan scenario. Until then, we look forward to hearing from you.

Dec 10th 2013
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,247 contributions

You'll find a lender who can help, but if you can qualify without her income you'll get a much better interest rate and/or lower fees on your own.

Dec 10th 2013
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,727 contributions

You probably can, but there's too much info missing to properly answer your question.. you could make $50K per month in income and have $49K in monthly debt, and you would be disqualified for insufficient income.. The lenders look at the debt to income ratio to determine how much you can afford, so without knowing your payments on all other debt, it's hard to advise you properly.. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Dec 10th 2013
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Mona Hulteen (mhulteen)
#22 ranked lender in New Jersey - 49 contributions

first I would find out why your wife's score is so low. We need to go off of her score. Perhaps we can get that up in a quick fashion. Secondly, we need to find out what other debt if any that you have. Lets get to work call me at 732-233-9436 Mona Hulteen, Sr. Loan Officer with Advisors Mortgage Group.

Dec 11th 2013
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Carlos Figueira (carlosfigueira)
#108 ranked lender in New Jersey - 199 contributions

Hi Fidel, Give me a call to review your options, I'm a local NJ mortgage broker. Carlos @ 908-516-2190 ext. 301 or e-mail me: carlos@keypointmtg.com

Dec 13th 2013
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