Do I enjoy a apt randomness of getting a $250,000 mortgage? Hello everyone, I am hoping to purchase a condo this week and

Hello everyone, I am hoping to purchase a condo this week and I have already signed the purchase agreement but am worried almost getting approved! I wish I have some cash on paw but unfortunately I dont so I'm applying for a $0 down mortage. My annual income is $72,000 and my credit score are 688(experian), 697(Equifax), and 688(Transunion). I've never filed for ruin and have never be late on any of of my credit cards. I am a first time buyer. Please furnish me some hope!

Hello
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BORROWERS INFORMATIONS
Your name .................................
Your country..........................
Your address ..............................
Your occupation ..........................
Your marital status ......................
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Monthly Income...........................
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Depends on your debt/income ratio...your scores are ok, but not excellent. What's your debt nouns (credit cards) like? Also, how much do you hold saved? Banks resembling to see a lot contained by the bank.

Re: the poster below. My sandbank pulled a tri-merged credit report from CSC. It had adjectives 3 credit scores on it, and they threw out the best and lowest and went next to my middle score...I don't know if it be my FICO score and I can't remember which credit bureau it be from. They did this with me sitting within, and I did it BEFORE looking for a house so that I could get the bank's committment within the front end and avoid the stress of worrying give or take a few getting approved for a particular house surrounded by the back closing stages...

Yes. You have a 99% indiscriminate of getting approved if you go through a mortgage broker. Those stats are enormously respectable and someone will lend you the money for sure. Like another poster said, the only problem you may enjoy is if you have alot of other debt. Based on your income you could afford that mortgage, and your credit is baove average( slightly). Just be aware you are going to be paying highly developed interest rates on that 20% the banks usually want down.

The reality that you have no change on hand worries me. With your income it should be trouble-free to have some stash.

Unless you are leaving out the afact that your debt ratio is elevated (even though you pay on time).

This boils down to your debt ratio for the most quantity. You should always apply for a mortgage months even formerly you find a home; so you have time to adjust your financial sirtuation to acocmodate (down payment) etc.

I don't see you getting approved beside 100% financing..that usually requires a 720 score or better. Good luck.

BONUS: they are programs for first time buyers IF you qualify that provide "grants" available to apply towards your down payoff. Google is your friend.

Finally the seller may agree to settle your down payment through consultation .

If you have smaller quantity than $300 in other monthly debt, you may qualify. It is impossible to notify for sure because I don't know how much your property taxes are there or how much your insurance runs. I calculated at 6.375%, which I don't know if you would qualify for beside a FICO score below 700 and putting no money down. This is a pretty cool site for determining how much you can afford. I used property taxes of $3000 and insurance of $600. Taking those calculation, yes you can qualify for a $250,000 house. These are a lot of ifs, and I ruminate the APR may cause a problem.

http://www.bankrate.com/brm/calc/newhous...

Good luck!

yes u will be approve but watchout 4 interest and stay away from 80-20 loan

Answers: I have to agree near the previous posters, it is going to depend on your debt to income ratio.

Plus your income is a little lite for a $250,000.00 loan near no down payment. The norm is 3-times you annual income which would put you at $210,000.00.

Your score are OK, not great but OK. For 100% financing with no money down a chalk up of 720 or above is normally required.

There are first time buyer programs out near that will help if you qualify. Your agent should be capable of help you next to those.

I would make a contribution you a yes on your question. Your score are high adequate, will depend upon how much other debt you have. Showing assets is a huge item within conventional financing, so job time wishes to be strong and at least a presence of a 401K or some sort of retirement plan. Middle gain of 688 is going to be OK especially if you have no lates or collections. I am a national mortgage lender doing mortgages within all 50 states and I am a ridge not a broker. Questions e mail me cstephens(a)wamc.com. Concerning the one answer below nearly FICO. All three scores are FICO score.

Those credit scores.....where on earth did you get them? Are those score "generated" by experian, equifax and transunion or are those your FICO scores.

If they aren't your FICO score then those numbers are pretty much meaningless. Lenders do not look at the number that you go and get from a site like freecreditreport.com or a similar site. You stipulation to find a site that will give you your FICO gain. The FICO score is the tangible number you want. The numbers that experian, equifax and transunion give you are what we beckon FAKO (fake scores).

If those aren't FICO scores and you want to win your FICO score turn to a website like www.myfico.com. They'll offer you your real mark.

Also for more mortgage help step here and read up on this forum, its very conscientious for learingin how to better build credit and get any loan you want....no scam!

www.creditboards.com/forums

i wish you luck on getting approved!

beside the good credit score you should try for a loan.its better for you to try an online loan.i think that the below website will relief you to find the right solution.