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30 k to put down, selling a home can I get a new one that easily?

I'm selling my current home (at a profit) and plan to pay off one of two car loans i have of $11,000My only other loans are:Another car loan: balance of $15,000Home will be paid once sold. (this isnt a short sale)Both car loans and mortgage have never been late...not once.I will have about $42,000 from sell of home. I plan to pay off the $11,000 car loan That will leave me 31,000I want to purchase a home "listed" for $99,900 ( its a foreclosure...it might sell for less)I will put minimum of $30,000 downIve been employed in airline industry for 21 yrs and it is secure.My yearly income is about $105,000The only debt i am carrying now is the two car notes which i will pay one off possibly.I live in Cornoa, CA and would like to get a new home soon What can we do? by kevinm from Corona, California. Oct 16th 2009 Reply


Mark Rafeh (Mark Rafeh)
#104 ranked lender in California - 2 contributions

Hello Kevin,Based on the information you have provided I don't forsee having any issue purchasing the property you are interested in. If you plan on purchasing the home prior to your home being sold we would have to qualify you including the current home. Please feel free to contact me if you would like to go over specific scenarios and loan programs.Mark Rafeh(800) 400-0717

Oct 16th 2009
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