Why can I not get a loan?

[CA renter]

paramount wrote:

And another thing: a good house is one that keeps you and your family safe and warm and is a roof over your head.

If you don’t have 10% down on a 700k house, buy a cheaper house where your down payment is equal to 20%. Or would that house not be good enough for you?

I hear you, paramount, but one of the biggest problems with So Cal is the huge disparity in wealth and income. Back when I was growing up in L.A. during the 70s and 80s, middle-class neighborhoods were the norm. Let me define what I call “middle class”: **safe**, clean neighborhoods where the homes and yards were well-maintained, neighbors watched out for each other, usually one parent stayed home and the other worked in in jobs ranging from mechanic to engineering. The homes would range from 1,300sf to ~2,000sf, and had tile or Formica countertops and regular carpet (no marble floors for us regular folks!).

These days, those neighborhoods are in the minority. You either buy in “the hood” with SFHs filled with multiple families, gang members hanging around in driveways and on street corners, staring people down and making it VERY uncomfortable to let your kids play in the front yard or walk down the street, dirt yards filled with cars, etc…

…OR you’re forced to buy McMansions that have been built as though we are entertaining heads of state with 500sf grand foyers and granite countertops with stainless steel (commercial grade, no doubt!) appliances — for a princely sum of $800K or more.

It’s disgusting, but that’s where we are right now.

Many of us just want a safe, clean neighborhood for our kids. I’m perfectly fine with Formica countertops and linoleum/carpet flooring. We drive very basic cars and don’t wear jewelry or fancy clothing, but we DO want a clean, safe neighborhood with nice neighbors for our family. There is nothing wrong with that. What’s wrong is what people expect you to pay for it.

[ncounty4]

Thanks to everyone who posted information regarding my original question (what happened to the 90% jumbo loans), as well as the additional advice provided. Much appreciated!

[ncounty4]

Thanks to everyone who posted information regarding my original question (what happened to the 90% jumbo loans), as well as the additional advice provided. Much appreciated!

[ncounty4]

Thanks to everyone who posted information regarding my original question (what happened to the 90% jumbo loans), as well as the additional advice provided. Much appreciated!

[ncounty4]

Thanks to everyone who posted information regarding my original question (what happened to the 90% jumbo loans), as well as the additional advice provided. Much appreciated!

[ncounty4]

Thanks to everyone who posted information regarding my original question (what happened to the 90% jumbo loans), as well as the additional advice provided. Much appreciated!

[temeculaguy]

Does anyone else see what just happened, the op dropped in, laid down a bomb, got paramount and allan riled up, now if I buy a BMW my kids are going to build bombs. This sucks.

Since I’m over 40 and divorced, california law requires that I purchase a porsche or a corvette before my 42nd birthday. I’d love to give more to charity, but it’s the law.

Kidding aside, paramount and allan have valid points, what would be so bad about taking advantage of the downturn and buying something ridiculously affordable, something 1-2x income. I’m reminded of the doctor we had here a few weeks ago that was killing himslef at work to live the carmel valley lifestyle, the overwhelming advice was to waive goodbye to the Jonses, lower your self imposed expectations and find a way to enjoy this gift we call life. If we ever needed an Enorah quote it is now.

[temeculaguy]

Does anyone else see what just happened, the op dropped in, laid down a bomb, got paramount and allan riled up, now if I buy a BMW my kids are going to build bombs. This sucks.

Since I’m over 40 and divorced, california law requires that I purchase a porsche or a corvette before my 42nd birthday. I’d love to give more to charity, but it’s the law.

Kidding aside, paramount and allan have valid points, what would be so bad about taking advantage of the downturn and buying something ridiculously affordable, something 1-2x income. I’m reminded of the doctor we had here a few weeks ago that was killing himslef at work to live the carmel valley lifestyle, the overwhelming advice was to waive goodbye to the Jonses, lower your self imposed expectations and find a way to enjoy this gift we call life. If we ever needed an Enorah quote it is now.

[temeculaguy]

Does anyone else see what just happened, the op dropped in, laid down a bomb, got paramount and allan riled up, now if I buy a BMW my kids are going to build bombs. This sucks.

Since I’m over 40 and divorced, california law requires that I purchase a porsche or a corvette before my 42nd birthday. I’d love to give more to charity, but it’s the law.

Kidding aside, paramount and allan have valid points, what would be so bad about taking advantage of the downturn and buying something ridiculously affordable, something 1-2x income. I’m reminded of the doctor we had here a few weeks ago that was killing himslef at work to live the carmel valley lifestyle, the overwhelming advice was to waive goodbye to the Jonses, lower your self imposed expectations and find a way to enjoy this gift we call life. If we ever needed an Enorah quote it is now.

[temeculaguy]

Does anyone else see what just happened, the op dropped in, laid down a bomb, got paramount and allan riled up, now if I buy a BMW my kids are going to build bombs. This sucks.

Since I’m over 40 and divorced, california law requires that I purchase a porsche or a corvette before my 42nd birthday. I’d love to give more to charity, but it’s the law.

Kidding aside, paramount and allan have valid points, what would be so bad about taking advantage of the downturn and buying something ridiculously affordable, something 1-2x income. I’m reminded of the doctor we had here a few weeks ago that was killing himslef at work to live the carmel valley lifestyle, the overwhelming advice was to waive goodbye to the Jonses, lower your self imposed expectations and find a way to enjoy this gift we call life. If we ever needed an Enorah quote it is now.

[temeculaguy]

Does anyone else see what just happened, the op dropped in, laid down a bomb, got paramount and allan riled up, now if I buy a BMW my kids are going to build bombs. This sucks.

Since I’m over 40 and divorced, california law requires that I purchase a porsche or a corvette before my 42nd birthday. I’d love to give more to charity, but it’s the law.

Kidding aside, paramount and allan have valid points, what would be so bad about taking advantage of the downturn and buying something ridiculously affordable, something 1-2x income. I’m reminded of the doctor we had here a few weeks ago that was killing himslef at work to live the carmel valley lifestyle, the overwhelming advice was to waive goodbye to the Jonses, lower your self imposed expectations and find a way to enjoy this gift we call life. If we ever needed an Enorah quote it is now.

[Allan from Fallbrook]

TG: You and I both know that your kids are more likely to build bombs if they’re Raider fans.

And, dude, no Corvettes. Buy that silver Porsche 911 you’ve always dreamed of. It’ll really set off those shiny teeth of yours.

[Allan from Fallbrook]

TG: You and I both know that your kids are more likely to build bombs if they’re Raider fans.

And, dude, no Corvettes. Buy that silver Porsche 911 you’ve always dreamed of. It’ll really set off those shiny teeth of yours.

[Allan from Fallbrook]

TG: You and I both know that your kids are more likely to build bombs if they’re Raider fans.

And, dude, no Corvettes. Buy that silver Porsche 911 you’ve always dreamed of. It’ll really set off those shiny teeth of yours.

[Allan from Fallbrook]

TG: You and I both know that your kids are more likely to build bombs if they’re Raider fans.

And, dude, no Corvettes. Buy that silver Porsche 911 you’ve always dreamed of. It’ll really set off those shiny teeth of yours.

[Author]

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