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Can i get approved for a $175,000 home loan?

I'm active duty in the military and make $50,000 before taxes and my side business (plowing) I make $5,000 before taxes. My wife makes $26,000 before taxes and my credit is 752 and hers is 742.  With a down payment of $10,000 what would be the chances of getting approved?

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July 08 - Malvern
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Answers (2)

Thank you, for your service!  Not sure if you are looking in AZ or not but from your location of your post it looks like you are in IA? 

The best thing to do so that all of your questions are answered is to connect with a loan officer to go through a quick pre-qualification.  You may or may not need a down payment, if you do use a VA home loan for this purchase you may not need a down payment as it is 100% financing. 

Your scores look great and income seems to be good.  Go for a pre-qualification!
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July 08
Your income, credit and down payment will allow you to qualify for a loan at this time.  Additionally, as active duty military, you are eligible for VA financing that has some perks and benefits for military personnel like yourself.  Thanks for helping keep our country free!  

If you would like to make application, please follow the link below.  I look forward to working with you for properties in Arizona.

http://www.am-financialmortgage.com/staff/loPage.php?id=17717

Guy
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July 08
 
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Can i get approved for a $175,000 home loan?
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