Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
What are my odds of getting approved for a mortgage?
I'm a first time home buyer, who recently found a property to purchase, I was pre-qual for $230,000, I'm purchasing a townhouse for $214,000, with 10% down, so I'm asking for ~$194,000. FICO Scores all around 780
My only debt is my student loans, which I owe roughly $9,000 on, with a monthly payment of $275, which is paid through Nov 2016, meaning I don't *have* to make payments until then. I only have 1 credit card, which gets paid off in full each month, with a high limit on it, but the highest I get on the card in a month is around $300. I've had this card for about 8 years, and have not applied/closed an account in a while. I did have a car loan last year, which I paid off.
After my downpayment I will have ~$25,000 in stocks, and a little more in T-bills, which have PV of ~$7,500. I also am expecting a bonus check, and tax refund (not sure the amounts), in a month. I also have about $4,000 in a 401k. Taxes are $4,700, HOA fees are $226/mon. which is the pre-qual amount basis
Regarding my job, I have worked for the same company for over 3 years, and it is my first job out of college.
Forgot to list my income, which is $58,700 a year, before OT and bonus.
The pre-qual amount was the amount I was qualified to borrow up too.
4 Answers
- AnonymousLv 66 years ago
I don't see that you listed your income, which is the most important factor.\
But, from what you said and the fact you got pre-q'd for $230, I think you chances are excellent.
- Anonymous6 years ago
Is that prequal figure for the loan amount? If so, you should be OK. If its a purchase amount, based on what assumed down payment? The only possible "hiccup" I can see might be the HOA fees - kinda high.
- Anonymous6 years ago
I will pre-qualify you for 2 million.....when you are pre=approved for something we will believe you
- TriciaLv 76 years ago
it will depend on your total income currently and how long you have been at your current job.