Finding a Home Loan

I have a 525 score which can be raised a bit with work but want to know if looking to get ino a home how much can I afford of a home reasonably withan income of about 45,000 yr.

If I deem the property for investment purposes would this chnage anythng while looking for the lender

It would depend what your monthly revolving debt is. 50% DTI is a good number to use, although it can vary.

If you said the property was an investment instead of owner occupied, your rates would be higher.


It’s alot harder to get into a non-owner-occupied (NOO) property with challenged credit.

Alot of lenders will give you a break if you can prove that the property is rented out however - every situation is so different, when you come to the point where you feel you’re ready to make a move, submit your pre-qual app and see what happens!

AKA Newdad

yeah with a score of 525 an investment property would be an ugly rate. You want purchase it as an owner occupied home.

With a 525 score you will get the best rate taking an ARM product. You will have a prepayment penalty.

Owner Occupied is the way you have to present it. As mentioned previously, Investment properties will carry a much higher rate and will be harder to get.

As far as how much you can afford you will have to take your other monthly obligations into account. I.E. Credit cards, loans, etc. This is known as DTI or Debt To Income.

You will want to keep this @ 50% or below

Have you had any success ???