![]() ![]() I am no familiar with Orange County, CA, but I would assume there are similar classes available. We bought our house in Arkansas in 2014 for 179k and sold in June for 215k. Total debt: 93k (student loan, land loan in home state, auto) Total income: 150k annually. Here’s our situation: Me: 27y, 805 credit score Her: 27y, 800 credit score. When I bought my first house I took a local first-time homebuyer's class that really put things into perspective and also gave good info from local realtors about the local market and programs that were available. My wife and I just relocated to GA for my job. Our Top Picks for Best Mortgage Lenders of November 2023. Read on for our reviews of the best mortgage lenders in America. Second, getting mortgage preapproval early will give you a better idea of how much you can afford for a second home, which is helpful once you start shopping for houses. I make roughly the same income as you and I'm looking at houses in the $300k-$400k range which will get me a 4+ bedroom, 3+ bath, on 1+ acres in a good area. They also have simple mortgage pre-qualification, pre-approval and application processes and a strong customer satisfaction record. Locking in your rate can be helpful, particularly since. I honestly don't know what you can afford as I am in an area where $800k houses are unheard of so the thought of an $800k house on a $150k income would make me nervous. Rocket Mortgage charges most of the typical fees that all lenders do, but there isn’t a fee to lock in an interest rate for 45 days. My preferred lender is local and who my previous mortgage was through, but their process involves going in to the physical bank, sitting down with a rep, and with the holiday season they had limited availability. Here, please treat others with respect, stay on-topic, and avoid self-promotion.Īlways do your own research before acting on any information or advice that you read on Reddit.īy "easy letter" I just mean that going through Better or Rocket Mortgage was the easiest path to getting a pre-approval letter. Get your financial house in order, learn how to better manage your money, and invest for your future. Banking Megathread: FDIC, NCUA, and your cash.Though higher credit scores are considered more favorable for lenders, it’s still possible to get a mortgage. ![]() ![]() The higher your score, the more lenders will want to work with you. Private communication is not safe on Reddit. Credit Score Needed To Buy A House (By Loan Type) Your credit score is a number that ranges from 300 to 850, and that number is used to indicate your creditworthiness. Scam alert: Ignore any private messages or chat requests. Although Quicken Loans / Rocket Mortgage originated 79 billion in 2015 mortgage. ![]()
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