Hoping to Buy in Westchester Count (Hope: credit, loan, houses)

[lvargas27]

Hello,

My husband and I are looking to but this upcoming fall/winter. I wanted to get some feedback of our chances and any feedback that would help us!!


We are looking to buy in NY (ideally Westchester County area). Our budget is 600K and we are putting 3-5% down. Here’s the thing, my husbands credit is about 600, and mine is 700. He is law enforcement so has pretty steady job and I own my own psychotherapy private practice ( for the past 2-3 years). Our income this year was about 90k ( I was out on maternity leave for most of the year).

What are our chances of getting approved?


We had spoken to a representative at US Bank around summer 2021 to get an idea and he said we could get pre approved for 500K ( which was our budget then).

[KensingtonPark]

If your income is still the same, then I would hurry, since rates are going up fairly quickly. The size your qualified loan is based on payments which are now higher than they were in 2021. That means you will only qualify for a smaller loan. Hopefully the houses that you are looking at are also stabilizing in price.

[Airborneguy]

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