wow, if my comments were “a little sharp” we have gotten alittle thin skinned on this site. Apparently I have gotten under your skin alittle nc, and this in no way was my intention. So here is my points, worded alittle more gently.
1)It would have been nice to state you already own a residence in the OP. It may change peoples advice to know you own a townhome already.
2)Lenders are scared of nonconforming loans. If you must buy now, is it possible to expand your purchase areas to other, less expensive areas where your DP will go farther and you can maybe qualify for a jumbo conforming loan? I dont follow the loan programs, but there should still be an available jumbo-conforming market. 545k+80k is still ~625k. Is there really no acceptable houses for sale in San Diego right now for less than 625k?
3) Are you willing to rent in the area you are looking in for the next year? If you are not, there is no point talking about that. It may be a long time before lenders start offering the programs you want again. You could save alot of money renting for a larger DP, AND have the house you want now.
Or was your intent to be advised of a program that you were unable to find on your own. That is a very different question than, “please advise”.
