Profile picture for LaurenH82

FHA Loan Amounts

My credit scores are between 738-756. I bring in 43K annually and am wondering what kind of loan I would qualify for (FHA?) and for what amount at what interest rate. Just trying to get an idea before I open my credit up to possible lenders.
  • October 16 2013 - Huntington Beach
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Answers (8)

Hi Lauren,

Quick Q- 43k is that gross income? To properly give you advice, we would need a little more info. Sample rates on FHA are 3.75% and 4.25% on conventional. Those are best execution/base rates. Since you are looking at FHA, I would assume you want a low down payment. If so and if possible, consider a 5% down conventional with a single premium for a lower payment option.

Talk with a loan officer in your area or if you want more info, feel free to contact me through my profile.

Ivan
  • October 16 2013
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Profile picture for Brookstone Mortgage
Any decent loan officer should be able to tell you what you can afford prior to running your credit as long as you give them accurate information. No one should be quoting interest rates without the full financial picture and no one should be doing sol illegally without quoting APRs. Call a CA licensed loan officer and the can pre-qualify you in minutes and from there, you can decide if you want to move forward with a full pre-approval.
  • October 17 2013
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The best thing to do is speak to a loan officer and complete a pre-qualification.

We are a Federally Charted Bank that lends in all 50 states.  If you want to be fully pre-qualified, contact me through my profile.  We can have your pre-qual letter with in 24 hours, if not same day.

Thank you and good luck!
  • October 17 2013
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Profile picture for The Mortgage Mark
Post a loan request on Zillow and see what lenders that match you up with. 
  • October 17 2013
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Rates are lower than they have been in months. You will need to get preapproved, sinces your debts and monthly payment on your potential new home will be figured into your debt to income. You should contact someone for a preapproval to calculate, no one can throw a rate figure out there with no information. feel free to contact me, I work for a federal bank working in all 50 states :)

Kris
  • October 17 2013
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Contact a Loan Officer so they can get you an Idea of what you qualify for. Like other posts say give accurate information. Click on my profile if you need any advice.
Matthew Rikkola
  • October 17 2013
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How much of a down payment do you have available? This can also determine which loan you can qualify for. For example, an FHA loan needs 3.5% down as a conventional may need anywhere from 10%-20% down. Your scores are also good enough to qualify for most loan products that are offered. Next, I recommend that you speak with a California lender like myself. We would be glad to speak with you to answer your questions and to help guide you to the loan that best fits your situation. Well if you have any other questions or need a loan, please contact me through the information on my profile page. I hope this helps and good luck!
  • October 17 2013
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Here is a link to a article that should help answer your question:
http://homes.yahoo.com/news/get-a-low-interest-rate-000846533.html
It is titled " How to qualify for the best mortgage rate".
If would like more specific information please let me know or you can click on my profile.

  • October 17 2013
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