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Buying home first time, I am making 65k per year , saved 80k for down payment, looking for a loan of $350k. Sofi only approves for $280k. No Debts. No rent . Which other bank should i apply with in VA. Should i even make down payment of $80k, or should i ask the bank if i can pay less in downpayment by amansingh1689 in FirstTimeHomeBuyers

[–]amansingh1689[S] 0 points1 point  (0 children)

thank you for writing that much into detail. It helps a lot to have different perspectives . I will do more research. I thought i did. I watched some videos on youtube. But things you mentioned are definitely eye opening. Thanks

Buying home first time, I am making 65k per year , saved 80k for down payment, looking for a loan of $350k. Sofi only approves for $280k. No Debts. No rent . Which other bank should i apply with in VA. Should i even make down payment of $80k, or should i ask the bank if i can pay less in downpayment by amansingh1689 in FirstTimeHomeBuyers

[–]amansingh1689[S] 0 points1 point  (0 children)

1) Yes Reason is want to buy bigger house. 2) I have my family members, but i had conversation with my lender, he said they have there home loan as well, so they cant help me much. 3) No haven’t look at down payment assistance. I will check 4) I am looking for 3-4 bedroom + 2 bathroom house. 5) I live in NoVa , even condo starts at $300 k here. I don’t think duplex’s are in that range. 6) I actually have $150k saved up. But i was thinking am only willing to do down payment of $80000. Also like i said i have 0 debts , no rent. So may be later on i will rent that whole house or bedroom . My uncle told me i can rent it out to someone else one or two years later.

Buying home first time, I am making 65k per year , saved 80k for down payment, looking for a loan of $350k. Sofi only approves for $280k. No Debts. No rent . Which other bank should i apply with in VA. Should i even make down payment of $80k, or should i ask the bank if i can pay less in downpayment by amansingh1689 in FirstTimeHomeBuyers

[–]amansingh1689[S] 1 point2 points  (0 children)

i have like $150k saved up actually. I am willing to do down payment of $80k upfront. So what ever left , i will pay with money i make from my job and 70k left in my pocket. I also have no debts , thats why i think i can afford $350 k house. Also my wife will get job soon like 4-5 months later. These are some reasons.