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Looking for a $475k loan with only 7-8% down. good credit and $75k income

by bobinroc184 from New York, New York. 25 days ago Reply


Ted Ark (tark@goldmortgage.com)
#32 ranked lender in New Jersey - 34 contributions

You didn't provide enough data to make an educated decision.Best guess, tough loan as your debt to income ratios are probably higher than 43% once you consider real estate taxes, private mortgage insurance and home owner insurance..If you add any other monthly debt, car loan, student loan, minimum credit car payments. I would suggest an FHA loan, pmi will be lower than conventional Fannie or Freddie loan. Get a gift to lower the principal & interest payment. Add a non-occupant co-borrower. Ted ArkGolden Mortgage Corporationtoll free 800-327-0123

25 days ago
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Gregory Topal (gtopal@rhfny.com)
#164 ranked lender in New York - 1 contribution

I am more that happy to review your situation for pre approval. Please give me a call on my direct line: Gregory Topal 631-446-3103

25 days ago
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Nathan Baram (broker@bestratecapital.com)
#129 ranked lender in New York - 6 contributions

Please call me to go over.RegardsNathan BaramCEOBest Rate Capital Inc DBA BRC975 West Jericho Turnpike Suite 3 Smithtown NY 11787work: (631) 360-0003Cell: (631) 525-1166Fax: (631) 574-3139www.BestRateCapital.comNMLSR# 82064MLO NMLS ID# 17296

25 days ago
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,044 contributions

More info needed.. We need to look at your Debt to Income ratio (DTI).. to determine how much you can afford per month.. you only provided your income.. Also stating you have "Good Credit" is subjective.. To one person 650 is good.. to another 730 is good.. This is why lenders use credit scoring models.. We would need to run a tri-merge credit bureau on all borrowers and we would use the lowest mid score of all borrowers for loan pricing.. The short answer is that there are loan products that allow you to purchase with as little as 5% down.. whether or not you can qualify for a $475K loan is had to say without more info.. for this reason, I suggest you contact a mortgage banker/broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with a Banker/Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the banker/broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the big box banks. I'm a preferred Lender with California and Arizona being my primary markets. 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 NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

25 days ago
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Please give me a call very attractive high balance loan pricing and never my fees.Larry 631987/9393 www.southforkfunding.com deal direct with the owner

25 days ago
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