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Can I qualify?

Credit score is 723 and monthly income is 2400 gross. No outstanding debt but do have gaps in employment. by vermilionrae897742 from La Habra, California. Jan 22nd 2014 Reply


Antonio Magtoto (amagtotojr)
#888 ranked lender in California - 36 contributions

Yes you qualify for a loan amount up to 43% of your gross income which would potentially give you a max loan amount of $156,310. Call or email so we can discuss specifics and specialty programs that you might qualify for. tony.magtoto@hanafinancial.com 714 276 1150

Jan 22nd 2014
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Eric Vander Werff (ericvw@stearns.com)
#29 ranked lender in Idaho - 12 contributions

I think you have a good chance at qualifying - you will need to have a loan officer run a new credit report with all three scores and then give you a maximum amount you can borrow. The other factors in qualifying are your down payment, liquid cash reserves (savings after closing), time on job, previous job info - are you W2'd vs 1099'd, and a good loan officer will be able to help you navigate this. I can help you with a referral if you would like to contact me through my profile. Wishing you success!

Jan 22nd 2014
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Delania Tak (takass_668_871)
#908 ranked lender in California - 10 contributions

Yes. Call me Delania at 818-209-1210 to discussTakandAssociates.comdelania@TakandAssociates.com

Jan 22nd 2014
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,240 contributions

Credit score should not be an issue, and as long as the employment gaps can be explained that should not be a problem either. VA loans are usually pretty flexible in debt to income (DTI) calculations but the other details of your application will make a difference in how much you can borrow. pdumouchel@primelending.com

Jan 23rd 2014
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,960 contributions

A good score is a great start, but score alone, and no debt does not a loan approval make. Don't be afraid to contact a local mortgage broker, give them a full application, and let them zero in on your personal ability to obtain financing. The gap in employment may or may not be an issue... Depends on what it is, and what you are doing now, and how long the gap(s) were. www.Minneapolis-Mortgage.net

Jan 23rd 2014
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Jason Vondrak (jvondrak)
#217 ranked lender in California - 1,741 contributions

Based on the information you put down, it sounds like you have a good chance of qualifying for a loan. Give us a call to go over situation in more detail to determine the exact amount you qualify for - 858-605-0952.

Jan 23rd 2014
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

With the understanding that it takes so much more than a credit score to qualify for a mortgage.. a 732 MID score is acceptable, and so long as your new home is priced within the allowable DTI for the lending program your using, you should be ok.. .. 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

Jan 23rd 2014
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