Chosen by Asker

You will need to earn roughly 100k, but it is hard to tell, because they are going to take the HOA fees into account. Your credit score determines your interest rate, not how much you can borrow.

by Landlord

5 months ago

Asker's Rating: 

You shouldn't take out a mortgage for more then 3 times your annual income as a rule of thumb for affordability. Also, finding a loan for a condo in california, they may require a larger downpayment. Also, make sure you get real comps from someone other then the real estate agent handling the sale. You don't want to end up in a property that will be worth 30% less a year from now. As far as credit scores go, you need a minimum of 620 to get an FHA loan these days, unless you have more then 20% to put down. If you do have at lease 20% down, you probably want at least a 700 score to get a decent deal. Things have gotten a lot more expensinve then they used to be.

by ADP_14- 5 months ago