# Home Buyers Chime In. **URL:** \ **Category:** NYSpeed Off Topic\ **Created:** [April 8, 2008, 11:43am UTC](https://forums.speedlife.net/t/home-buyers-chime-in/46436 "2008-04-08T11:43:04Z")\ **Posts on this page:** 10\ **Page:** 2
**Author:** ![Fry](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/fry/32/7284_2.png) [@Fry](https://forums.speedlife.net/u/Fry)\ **Post date:** [April 8, 2008, 4:07pm UTC](https://forums.speedlife.net/t/home-buyers-chime-in/46436/21 "2008-04-08T16:07:34Z")
> [@StrokedZ28](#): > > Why Nikuk? What does he do? He’s some sort of uber finance ninja guy. I haven’t yet sorted out what exactly his background is. By that I mean I haven’t asked him. I try to keep our face-to-face conversation limited to “pass me a beer?” ---
**Author:** ![Fry](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/fry/32/7284_2.png) [@Fry](https://forums.speedlife.net/u/Fry)\ **Post date:** [April 8, 2008, 4:08pm UTC](https://forums.speedlife.net/t/home-buyers-chime-in/46436/22 "2008-04-08T16:08:17Z")
For example, this is his masterpiece: [http://nyspeed.com/forums/showthread.php?t=42786](http://nyspeed.com/forums/showthread.php?t=42786) ---
**Author:** ![BDR5oh](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bdr5oh/32/7315_2.png) [@BDR5oh](https://forums.speedlife.net/u/BDR5oh)\ **Post date:** [April 8, 2008, 4:24pm UTC](https://forums.speedlife.net/t/home-buyers-chime-in/46436/23 "2008-04-08T16:24:08Z")
my credit score was 510 when i got my loan … even now it’s only like 530 ---
**Author:** ![walter](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/walter/32/7202_2.png) [@walter](https://forums.speedlife.net/u/walter)\ **Post date:** [April 8, 2008, 4:28pm UTC](https://forums.speedlife.net/t/home-buyers-chime-in/46436/24 "2008-04-08T16:28:28Z")
> [@StrokedZ28"](#): > > Well my wife and I will be looking into a house soon and I was wondering from those who recently got mortgages how your credit score affected it. > > My wife and I both have scores in the upper 700’s. I have been told that that type of score is very good and average if not below. > > From those of you who recently bought a house, where would an upper 700 score leave me when trying to buy a home? With the mortgage crisis I’m afraid of being turned down or getting an awful rate. I have a friend with a \>720 score, who makes over $140k/yr repeatedly get rejected for a $3XX,XXX loan recently. Scores are good, loans are tough these days. ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [April 8, 2008, 5:17pm UTC](https://forums.speedlife.net/t/home-buyers-chime-in/46436/25 "2008-04-08T17:17:00Z")
> [@walter](#): > > Scores are good, loans are tough these days. That 400 billion the federal reserve just loaned out _should_ be helping with that. But yeah, there was a while when even people with excellent credit and debt to income were having problems with loans depending on the local housing market. Some banks saw that the houses were probably still considerably overvalued and simply didn’t want to assume a mortgage on a 300k house that might be worth 220k a month later. And Nikuk used to be loan officer I believe. ---
**Author:** ![StrokedZ28](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/strokedz28/32/7592_2.png) [@StrokedZ28](https://forums.speedlife.net/u/StrokedZ28)\ **Post date:** [April 8, 2008, 5:59pm UTC](https://forums.speedlife.net/t/home-buyers-chime-in/46436/26 "2008-04-08T17:59:43Z")
well I would be looking for a house under 100k so I shouldn’t run into those problems. Honestly I would like to get a monthly payment for around $600. I figure that is pretty managable for my income. ---
**Author:** ![Viper966](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/viper966/32/7268_2.png) [@Viper966](https://forums.speedlife.net/u/Viper966)\ **Post date:** [April 8, 2008, 6:16pm UTC](https://forums.speedlife.net/t/home-buyers-chime-in/46436/27 "2008-04-08T18:16:25Z")
me and my gf just got our house at 175k with ~ 100k combined income and both ~ 735 Credit scores (no negatives, just relativly short credit history for us ) ---
**Author:** ![Nikuk](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/nikuk/32/7254_2.png) [@Nikuk](https://forums.speedlife.net/u/Nikuk)\ **Post date:** [April 8, 2008, 8:49pm UTC](https://forums.speedlife.net/t/home-buyers-chime-in/46436/28 "2008-04-08T20:49:56Z")
100k loan amount 30yr @ 6.25 will net you a P&I pmt of $615. Loan amount does not equal purchase price. …and Don’t forget escrow for taxs, insurance, and possibly PMI. Not counting PMI, you should be making at LEAST $2050 / mo to comfortably get final approval on that. It seems that I cannot say it enough… FIRST TIME HOMEBUYER PROGRAM _can_ be your best friend I stayed at a holiday inn express last night. > [@BDR5oh](#): > > my credit score was 510 when i got my loan … > > even now it’s only like 530 I told you D, we really need to get you refi’d before… ---
**Author:** ![evane](https://avatars.discourse-cdn.com/v4/letter/e/6bbea6/32.png) [@evane](https://forums.speedlife.net/u/evane)\ **Post date:** [April 9, 2008, 9:24am UTC](https://forums.speedlife.net/t/home-buyers-chime-in/46436/29 "2008-04-09T09:24:56Z")
My house purchase price was 86500, I have a FHA 30yr at 6% with a 6% seller concession so my loan amount was 91960. To the bank at closing I paid 235 and to my attorney 400. When my credit was pulled I had craptuclar score of 619 mid score due to my having some lates and a stupid nyseg collection up there cause nyseg fucked up and lied to me (still need to try get that removed) My one suggestion is work with a broker… Alan Koeppel at Premium Mortgage on Main st in williamsville seriously great guy and helped me a bunch. ---
**Author:** ![Jack](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jack/32/7613_2.png) [@Jack](https://forums.speedlife.net/u/Jack)\ **Post date:** [April 9, 2008, 2:50pm UTC](https://forums.speedlife.net/t/home-buyers-chime-in/46436/30 "2008-04-09T14:50:17Z")
> [@walter](#): > > I have a friend with a \>720 score, who makes over $140k/yr repeatedly get rejected for a $3XX,XXX loan recently. > > Scores are good, loans are tough these days. debt : income Having a score \> 700 doesn’t mean he isn’t already 300k in debt [Previous page](https://forums.speedlife.net/t/home-buyers-chime-in/46436.md?page=1)