I want to buy a bigger home, do you think I can qualify for this loan??

Right now, my mortgage is in my name only. My loan is for about 74k. I work as an insurance agent, and am doing pretty well for a rookie. I am on my way to making about 50k this year in my first year. The home I am wanting to buy is about 145k. What are the chances I will qualify? What can I do to help qualify? I have no credit cards. I owe 10k on a jeep, and about 15k in school loans, and about 5k in other miscellaneous loans. My wife makes about 12-15k a year.

I want to buy a bigger home, do you think I can qualify for this loan??

You have a good credit score, a healthy income and you have been in the same industry for three years. Nathan, it looks like you more than qualify to buy that home you want. Qualification is not your problem. I have twenty lenders that would bend over backwards to give you a home loan and they wouldn't even ask you for a down payment

The only thing that concerns me is my whether you've determined what your long term financial goals are and if you've thought about building some reserves just in case life throws you a curve ball.

Depending on how much your current home is worth you may want to sell it and use your equity as a cushion for your new purchase. You won't have to use your equity as a down payment because I'm almost positive you could qualify for 100% financing.

If you want to keep the home you have that may be an option as well. If the rents are high enough in your area to cover your mortgage you might cash-out on that home and use your cash to buy this other one without selling.

There are a too many options for me to list them all here, but you can email me if you'd like some more details. the main thing i want to get across to you is that you don't have to worry about qualifying for a loan, you just have to make sure that you're putting yourself in a good situation.

I want to buy a bigger home, do you think I can qualify for this loan??

sure

I want to buy a bigger home, do you think I can qualify for this loan??

Not good for getting a good rate... You want to payoff your highest % expenses and put 20% (+) down.. If your parents can help, which is always nice, I think if you pay a point or 2 and drop 20% down, you will recieve a blessing..

I want to buy a bigger home, do you think I can qualify for this loan??

Sure, you should qualify. However, why not figure the amount that you'll spend on the new big mortgage and send that much extra to your current debts every month? They'd be paid off in no time. Then you can go back in debt to buy furniture for your larger home! Haha No, seriously, pay off the debt that you have and then apply. You'll go into it much more clear headed, especially since your salary is not yet set.

Good luck!!