Zillow Advice: Approval Process - How much will I qualify for??? http://www.zillow.com/advice-thread/How-much-will-I-qualify-for/455021/ Zillow Advice | Zillow Real Estate I had a client recently who ... http://www.zillow.com/advice-thread/How-much-will-I-qualify-for/455021/ I had a client recently who was able to do a conventional new home loan, while renting out the current home. He had excellent credit, over 30% equity in the current home, and a leasee willing to pay first, last, and a deposit well in advance of the closing/moving in. Sat, 11 Aug 2012 05:25:00 GMT http://www.zillow.com/advice-thread/How-much-will-I-qualify-for/455021/ 2012-08-11T05:25:00Z You have a couple of issues........ ... http://www.zillow.com/advice-thread/How-much-will-I-qualify-for/455021/ You have a couple of issues........ if you refinanced your current home less than a year ago, there may likely be an problem being able get financing to purchase another property now. Your deed of trust/mortgage likely has a clause that says you agree to occupy the property for min of one year. Another issue will be not being able to count any rent to off set current payment.<br/>I would suggest that you get <strong>pre approved</strong> including a real person Underwriting before you go forward. Getting an automated underwriter approval is not going to pick up the refinance if less than one year, but a real person doing a final underwriting will....... Sat, 11 Aug 2012 05:02:00 GMT http://www.zillow.com/advice-thread/How-much-will-I-qualify-for/455021/ 2012-08-11T05:02:00Z Since this goes a bit beyond ... http://www.zillow.com/advice-thread/How-much-will-I-qualify-for/455021/ Since this goes a bit beyond just plugging in numbers on a mortgage calculator, I would suggest you find a financial institution that is qualified to give VA backed loans and discuss what you would like to do with a loan officer there.&nbsp;&nbsp;Many factors go into qualifiying for a mortgage, including your credit score, your debt-to-income ratio, and interest rate of the loan.&nbsp; <br/><br/>Your lending institution loan officer should be able to answer any questions in this regard, and also pre-qualfiy you for a mortgage before you start shopping for your new home.<br/><br/> Sat, 11 Aug 2012 02:23:00 GMT http://www.zillow.com/advice-thread/How-much-will-I-qualify-for/455021/ 2012-08-11T02:23:00Z