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Updated about 5 years ago on . Most recent reply

Junior Shay's profile image
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Junior Shay
  • Member since Jan 1, 2020
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Junior Shay's profile image
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Junior Shay
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Junior Shay
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Private Lending & Conventional Mortgage Advice

What amount I can get with this credit report

Junior Shay
Posted

Hello,

I’m still concerned with amount of finance that is possible for me to take out as a first loan. So based on your experiences and knowledge what is the max amount I can take? Im aiming for 650k loan. Could that be possible?

750+ credit score 

2% DTI ration

20k possible to put down 

60k annual income 


thank you in advance 

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Jacob Sampson's profile image
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Jacob Sampson
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  • from Topeka, Kansas
  • Member since Sep 29, 2015
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Jacob Sampson's profile image
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Jacob Sampson
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  • from Topeka, Kansas
  • Member since Sep 29, 2015
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Jacob Sampson
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  • Topeka, KS
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Jacob Sampson
  • Investor
  • Topeka, KS
Replied

Is this for a SFH you will live in? I think the short answer is, no. 60k income is not sufficient for that sized home. Even if the bank will loan you the money don't take it. You can't afford it.

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