General Question

oksana_bm's avatar

Can I get mortgage?

Asked by oksana_bm (145points) December 20th, 2008

Will I be able to get mortgage if my income is $3500–4000 per month, with no down payment, and fixed APR. also I have credit score 762 . What is my option?

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11 Answers

jessturtle23's avatar

Where do you live?

augustlan's avatar

All sounds good to me. Go to and see what they have to say about it.

oksana_bm's avatar

I live in CT now, but prices here are too high. so I’m planing to move to Chicago in about 6–12 months

jessturtle23's avatar

CT has higher prices for everything. Look into foreclosures where you live. It sucks to be a vulture but the housing market won’t change until people start buying up the properties.

PupnTaco's avatar

1. What is your debt?
2. Minimum down payment 3%

Your debt-to-income ratio must be 50% to qualify for a low down-payment FHA loan.

If you’re a teacher, veteran, low-income person, or state employee you may qualify for a specific government loan. If it’s in a rural area, there are zero-down farm loans.

Avoid Countrywide and Ditech like the plague.

oksana_bm's avatar

1) about $1300
I’m self employed

PupnTaco's avatar

Try calling Chase, they have a good reputation.

Computergenius's avatar

Find mortgage rates on the web site of a local credit union. They are nonprofit, so their rates and fees are generally less.

Magnus's avatar

Not from me, no.

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