- This topic has 28 replies, 6 voices, and was last updated 17 years ago by
The OC Scam.
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November 12, 2007 at 10:47 AM #10888November 12, 2007 at 11:32 AM #98707
pk92108
ParticipantMy uneducated guess:
Case 1 – Should qualify for 300 K…will not qualify now.
Case 2 – Should qualify for 700 k…might get 500 K
am i close??
November 12, 2007 at 11:32 AM #98767ParticipantMy uneducated guess:
Case 1 – Should qualify for 300 K…will not qualify now.
Case 2 – Should qualify for 700 k…might get 500 K
am i close??
November 12, 2007 at 11:32 AM #98787ParticipantMy uneducated guess:
Case 1 – Should qualify for 300 K…will not qualify now.
Case 2 – Should qualify for 700 k…might get 500 K
am i close??
November 12, 2007 at 11:32 AM #98783ParticipantMy uneducated guess:
Case 1 – Should qualify for 300 K…will not qualify now.
Case 2 – Should qualify for 700 k…might get 500 K
am i close??
November 12, 2007 at 11:39 AM #98709sdrealtor
ParticipantCare 1 should be ok up to about 225K.
Case 2 should be Ok up to 450K.November 12, 2007 at 11:39 AM #98791ParticipantCare 1 should be ok up to about 225K.
Case 2 should be Ok up to 450K.November 12, 2007 at 11:39 AM #98770ParticipantCare 1 should be ok up to about 225K.
Case 2 should be Ok up to 450K.November 12, 2007 at 11:39 AM #98786ParticipantCare 1 should be ok up to about 225K.
Case 2 should be Ok up to 450K.November 12, 2007 at 11:49 AM #98794Raybyrnes
ParticipantFamily 1 should be able to qualify for up to $486,625 in a non targeted area or 594,764 in a targeted area on New Construction. For resale non targeted they could probably look at up to 543,859 in a non targeted area or up to $664,716 in a targeted area. They can get into these program through the CHAFA Loan Program if they are a first time homebuyer becaue they meet the eligible income requirements.
Family two is subject to market rates. They don’t qualify for CHAFA becaue their income is too high. For this family I would think they are subject ot conforming loan limits which puts there maximum loan amounts twards 450000. There 45K would reduce the loan amount under 417000 but they might still have problems with the 20% down. I would still think that a sub prime or superprime might lend money up to this dollar amount.
November 12, 2007 at 11:49 AM #98799ParticipantFamily 1 should be able to qualify for up to $486,625 in a non targeted area or 594,764 in a targeted area on New Construction. For resale non targeted they could probably look at up to 543,859 in a non targeted area or up to $664,716 in a targeted area. They can get into these program through the CHAFA Loan Program if they are a first time homebuyer becaue they meet the eligible income requirements.
Family two is subject to market rates. They don’t qualify for CHAFA becaue their income is too high. For this family I would think they are subject ot conforming loan limits which puts there maximum loan amounts twards 450000. There 45K would reduce the loan amount under 417000 but they might still have problems with the 20% down. I would still think that a sub prime or superprime might lend money up to this dollar amount.
November 12, 2007 at 11:49 AM #98779ParticipantFamily 1 should be able to qualify for up to $486,625 in a non targeted area or 594,764 in a targeted area on New Construction. For resale non targeted they could probably look at up to 543,859 in a non targeted area or up to $664,716 in a targeted area. They can get into these program through the CHAFA Loan Program if they are a first time homebuyer becaue they meet the eligible income requirements.
Family two is subject to market rates. They don’t qualify for CHAFA becaue their income is too high. For this family I would think they are subject ot conforming loan limits which puts there maximum loan amounts twards 450000. There 45K would reduce the loan amount under 417000 but they might still have problems with the 20% down. I would still think that a sub prime or superprime might lend money up to this dollar amount.
November 12, 2007 at 11:49 AM #98718ParticipantFamily 1 should be able to qualify for up to $486,625 in a non targeted area or 594,764 in a targeted area on New Construction. For resale non targeted they could probably look at up to 543,859 in a non targeted area or up to $664,716 in a targeted area. They can get into these program through the CHAFA Loan Program if they are a first time homebuyer becaue they meet the eligible income requirements.
Family two is subject to market rates. They don’t qualify for CHAFA becaue their income is too high. For this family I would think they are subject ot conforming loan limits which puts there maximum loan amounts twards 450000. There 45K would reduce the loan amount under 417000 but they might still have problems with the 20% down. I would still think that a sub prime or superprime might lend money up to this dollar amount.
November 12, 2007 at 11:59 AM #98722kev374
ParticipantRay, so you’re saying Family 1 will get a higher loan despite higher debt/lower income because their income qualifies for some kind of housing program? (CHAFA)?? Isn’t that ass backwards?
November 12, 2007 at 11:59 AM #98798ParticipantRay, so you’re saying Family 1 will get a higher loan despite higher debt/lower income because their income qualifies for some kind of housing program? (CHAFA)?? Isn’t that ass backwards?
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