Home
Log in / Sign Up
    Private Messages   Advanced Search   Rules   New User Guide   FAQ   Advertise   Contact Us  
Forum -> Inquiries & Offers -> Moving/ Relocating
Attention mortgage brokers:
Previous  1  2



Post new topic   Reply to topic View latest: 24h 48h 72h

amother
OP


 

Post Wed, Jan 19 2022, 4:48 pm
nicole81 wrote:
The FHA loan limit in Brooklyn is about $822k so even if you meet the income to debt requirements for that loan amount, you'll need at least enough down payment to meet the different between that number and the house price.


houses under 822k don't exist where I live....
I believe I would meet the income and debt requirements though
Back to top

amother
OP


 

Post Wed, Jan 19 2022, 4:50 pm
amother [ Lightgray ] wrote:
Exactly! It also depends on whether this is a single family (or condo) or multi-unit and how much the taxes on the house are.

In addition to your income, your employment history (or lack thereof) makes a difference too.

Please don't expect to get pre-approved on imamother! Contact a good mortgage broker (like me!) to get proper guidance and answers that apply to your situation.


I would love to contact you! Would you feel comfortable posting under your user name so I can pm you?
Back to top

amother
Strawberry


 

Post Wed, Jan 19 2022, 5:35 pm
amother [ OP ] wrote:
Where are you located?


We're in NJ. Our loan was slightly over 400k.
Back to top

ez-pass




 
 
    
 

Post Wed, Jan 19 2022, 5:39 pm
You can pm me for a great mortgage experts name and info.
Back to top

amother
OP


 

Post Wed, Jan 19 2022, 5:46 pm
ez-pass wrote:
You can pm me for a great mortgage experts name and info.


Thanks. I pm'd you
Back to top

nicole81




 
 
    
 

Post Wed, Jan 19 2022, 5:58 pm
amother [ OP ] wrote:
houses under 822k don't exist where I live....
I believe I would meet the income and debt requirements though


Right, but that would be plus your minimum of 3% down, so about an 850k house. And the more you put down, the higher that amount would be.

Another scenario would be if there's a house of 1 million, you may be able to get a jumbo loan with 10% down. If not, then you would have to go FHA but bc of their loan limit of 822, you'd need at least 17.3% down (3% of the purchase price plus the difference between their max loan and one mil)

There are tons of mortgage brokers out there who would be willing to converse with you and run a pre-approval for free to see what your options are.
Back to top

amother
OP


 

Post Wed, Jan 19 2022, 6:13 pm
nicole81 wrote:
Right, but that would be plus your minimum of 3% down, so about an 850k house. And the more you put down, the higher that amount would be.

Another scenario would be if there's a house of 1 million, you may be able to get a jumbo loan with 10% down. If not, then you would have to go FHA but bc of their loan limit of 822, you'd need at least 17.3% down (3% of the purchase price plus the difference between their max loan and one mil)

There are tons of mortgage brokers out there who would be willing to converse with you and run a pre-approval for free to see what your options are.


got it. thanx
Back to top
Page 2 of 2 Previous  1  2 Recent Topics




Post new topic   Reply to topic    Forum -> Inquiries & Offers -> Moving/ Relocating

Related Topics Replies Last Post
How to juggle giving attention to everyone? 2 Wed, Mar 13 2024, 8:15 am View last post
Attention phoenix imas! Hairstylist for girls
by amother
4 Tue, Mar 05 2024, 2:25 pm View last post
Got a letter from mortgage company
by amother
13 Sun, Feb 25 2024, 9:26 am View last post
Attention people who have 48 inch beds 9 Wed, Feb 21 2024, 7:10 pm View last post
Dd's teacher gives her special attention
by amother
7 Thu, Feb 15 2024, 4:06 am View last post