Want to buy but can’t come up with 20% down payment,

[EmilyHicks]

Hi,

My first post here.

I and my husband want to buy a house in the range of $400,000 to $450,000 but we only have $55,000 cash. Our combined income is higher than $140,000.

Is it possible to put a 10% down right now? Do we even have enough for a 10% down payment considering other costs related to home buying?

thanks

[Raybyrnes]

Do you have money invested ina roth IRA for 5 years or longer. You may be able to access this. You might also want to see if you can pledge assets in your 401K. Not suggesting that you buy but simply giveing you ways to access additional capital.

[Raybyrnes]

Do you have money invested ina roth IRA for 5 years or longer. You may be able to access this. You might also want to see if you can pledge assets in your 401K. Not suggesting that you buy but simply giveing you ways to access additional capital.

[Raybyrnes]

Do you have money invested ina roth IRA for 5 years or longer. You may be able to access this. You might also want to see if you can pledge assets in your 401K. Not suggesting that you buy but simply giveing you ways to access additional capital.

[Raybyrnes]

Do you have money invested ina roth IRA for 5 years or longer. You may be able to access this. You might also want to see if you can pledge assets in your 401K. Not suggesting that you buy but simply giveing you ways to access additional capital.

[Raybyrnes]

Do you have money invested ina roth IRA for 5 years or longer. You may be able to access this. You might also want to see if you can pledge assets in your 401K. Not suggesting that you buy but simply giveing you ways to access additional capital.

[temeculaguy]

FHA will work for you but it matters where you are buying

https://entp.hud.gov/idapp/html/hicost1.cfm

3% down, negotiate with the seller to have them pay most of the closing costs and your up front mortgage insurance premium

For most counties, it works except for a few in northern, central and imperial counties

you have to doccument your income, have decent credit and not too high of car payments and cc debt, they actually read that stuff.

Based on your numbers of getting a loan of 350-400 on 140k income you are under 3x, should be fine.

[temeculaguy]

FHA will work for you but it matters where you are buying

https://entp.hud.gov/idapp/html/hicost1.cfm

3% down, negotiate with the seller to have them pay most of the closing costs and your up front mortgage insurance premium

For most counties, it works except for a few in northern, central and imperial counties

you have to doccument your income, have decent credit and not too high of car payments and cc debt, they actually read that stuff.

Based on your numbers of getting a loan of 350-400 on 140k income you are under 3x, should be fine.

[temeculaguy]

FHA will work for you but it matters where you are buying

https://entp.hud.gov/idapp/html/hicost1.cfm

3% down, negotiate with the seller to have them pay most of the closing costs and your up front mortgage insurance premium

For most counties, it works except for a few in northern, central and imperial counties

you have to doccument your income, have decent credit and not too high of car payments and cc debt, they actually read that stuff.

Based on your numbers of getting a loan of 350-400 on 140k income you are under 3x, should be fine.

[temeculaguy]

FHA will work for you but it matters where you are buying

https://entp.hud.gov/idapp/html/hicost1.cfm

3% down, negotiate with the seller to have them pay most of the closing costs and your up front mortgage insurance premium

For most counties, it works except for a few in northern, central and imperial counties

you have to doccument your income, have decent credit and not too high of car payments and cc debt, they actually read that stuff.

Based on your numbers of getting a loan of 350-400 on 140k income you are under 3x, should be fine.

[temeculaguy]

FHA will work for you but it matters where you are buying

https://entp.hud.gov/idapp/html/hicost1.cfm

3% down, negotiate with the seller to have them pay most of the closing costs and your up front mortgage insurance premium

For most counties, it works except for a few in northern, central and imperial counties

you have to doccument your income, have decent credit and not too high of car payments and cc debt, they actually read that stuff.

Based on your numbers of getting a loan of 350-400 on 140k income you are under 3x, should be fine.

[sdrealtor]

You’ve got plenty if you can find something you like and can get an accepted offer at a decent price. You could go FHA with 3.5% down or higher. You can get sellers to provide a credit up to 3% of the purchase price in most cases to cover closing costs. You have plenty of cash and an adequate. the real challenge will be finding something you like. Where do you want to live?

[sdrealtor]

You’ve got plenty if you can find something you like and can get an accepted offer at a decent price. You could go FHA with 3.5% down or higher. You can get sellers to provide a credit up to 3% of the purchase price in most cases to cover closing costs. You have plenty of cash and an adequate. the real challenge will be finding something you like. Where do you want to live?

[sdrealtor]

You’ve got plenty if you can find something you like and can get an accepted offer at a decent price. You could go FHA with 3.5% down or higher. You can get sellers to provide a credit up to 3% of the purchase price in most cases to cover closing costs. You have plenty of cash and an adequate. the real challenge will be finding something you like. Where do you want to live?

[sdrealtor]

You’ve got plenty if you can find something you like and can get an accepted offer at a decent price. You could go FHA with 3.5% down or higher. You can get sellers to provide a credit up to 3% of the purchase price in most cases to cover closing costs. You have plenty of cash and an adequate. the real challenge will be finding something you like. Where do you want to live?

[Author]

Posts