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Will I get a loan in today's market?

Hi, I plan to buy a home in the $500k range and putting 10% down. What are my chances of getting a loan? I have no debts. I got a second job paying $7k a month. plus another side hustle that gives $4k. My W2 is two years now and income has always increased. Is this ok given the market we have today? by grupo178 from Sacramento, California. Mar 21st 2023 Reply

Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,843 contributions

No one can answer your question without reviewing a full application. But, your regular main job income is OK to use. To use part time jobs, you must have a two-year history of the part-time work, then we will income average that over the past two years. No idea what the 'side hustle' is, how you are paid, how long you've been doing it... So I can't comment on that as possible qualifying income. But generally speaking, the typical person can qualify for about 4 times their yearly income as a loan amount. I lend in MN, WI, IA, ND, SD. Cambria Mortgage, NMLS 274132. Visit me at

Mar 21st 2023
Dave Skow (daveskow)
#15 ranked lender in Washington - 455 contributions

The wifes income likely usable ..the side hustle income isnt ....the 2nd job income likely not usable ether unless you have been doing it for 2 + yrs ...get pre approved - let me know if I can assist - good luck Dave Skow | Loan Officer Movement Mortgage NMLS 278613 Mobile (206) 714-9745

Mar 23rd 2023
Dan Paladin (dpaladin)
#356 ranked lender in California - 792 contributions

More info is needed. Here are general guidelines. Primary employment is not an issue, just need to have a 2 yr employment history(doesn't have to be the same employer).The secondary job does have to have a 2 yr history has well to include that income.Feel free to contact me to discuss your options. 562-254-5616

Mar 24th 2023
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