Reply to 670 score, 16k, want to borrow 700k

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I don't think you'll be able to borrow $700k with only $16k to put down.  That $16k is only a bit over 2% of the amount you want to borrow.  Most lenders want you to put down at least a 5% down payment.  Zero-down mortgages do exist, but they require good credit.

Also, you really don't want to be cash-strapped and paycheck-to-paycheck after buying a house.  Houses break and are expensive to fix.

Is there hope for you?  Sure—for the future.  You make good money, so you [i]can[/i] save.  Take a year or two to lower your expenses, save up for a larger down payment, and get your credit in better shape.   Then you'll be in a better position to buy.[/quote]

Even with two moves? Leave 4500k and leave where ever I rent next to my own place?[/quote]

Why are your moves costing so much?  Rent a UHaul, invite friends over an d move.  It doesn’t have to be expensive. If it is, you have too much for this, you have too much stuff.  Get rid of some of it.

Where does your child stay when you have physical custody?  Find a cheap ($1500-$1750) one bedroom apartment and sleep on the couch when your child is with you. Start to save and pay off your student loans. How old is the child and where does the child live they are not with you?

Can you break down the $1700 by student loan, car loan and child support?
[/quote]

800 student loans 600 car and insurance no child support -op[/quote]

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