Craigito

qualification purposes...I just checked a couple web sites and with my $600 car payment at my current salary I can only qualify for like 100K dollar loan, however, if I cut it in half I can get more like 160-170K which is what I need (looking for condo/townhouse next year probably). Problem is if I do another five year loan thats seven years of payments..ugh. I could always sell my car and get a GTI or something but thats gonna cost close to what my current payoff is right now. I have no experience in property ownership so any help is appreciated..I know this is really off topic..so you if any of you want to chime in..you could email me instead of cluttering up the board. Thanks!
p.s..I live in Orange Co. California..

Craig

00 1.8tqms

"so you're foofighter"

I'm in the same boat as you in terms of non familiarity to home buying...

Craigito

The rates are getting so low..it kills me to burn my rent payment every month..Argh!

"so you're foofighter"

I really want to live over in east costa misery but haven't delved into that market yet.

Troy H

mortgage lender and learned that they are currently lending at 6.5%, not enough of a change from the 7.0% I'm locked in at to make refinancing worth my time, it would take too long to recoup the costs. OTOH, the prime lending rate has dropped at LEAST 4.5% since I bought my house (not sure exactly, but that's a minimum). Needless to say, I was pretty disappointed. One hint I would give you for maximizing the amount they will loan you is to cancel every credit card you possibly can, try to have only 1 or maybe 2 cards at most. The more POTENTIAL debt they see, the worse your rating will be, regardless of whether you currently carry a balance or not.