Affordable Homes in Bakersfield

Affordable Homes in Bakersfield

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Bakersfield Homes Less Than $350,000

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Your ability to purchase a home is largely based on income. So let's calculate how much income we can use to qualify you to buy a home.

If you will be buying this home by yourself, please make a selection below that best describes your income.

If you will be buying this home with someone else (spouse, significant other, family member, etc.), then enter the COMBINED income of you and the other person. EXAMPLE: If you make $45,000 per year and the other person buying makes $40,000 per year, that would be a COMBINED income of $85,000. Please make a selection below that best describes your combined income.

GOOD. For an annual household income of between $55,000 to $75,000 per year, it appears that you have the income to purchase a home between $250,000 to $350,000.

Now let's talk about the money you have saved up for down payment and closing cost.

Let's add up all your money. This will include money in checking, savings, CD's, brokerage and stock accounts, IRA's & 401(k)'s and cash saved at home.

With a credit score of below 580, it is more difficult to buy a house. However, IT IS STILL POSSIBLE.

With a credit score of 580 or below you would need a down payment of AT LEAST 10% + Closing costs. For a $300,000 home that would be $30,000 for down payment and around another $10,000 for closing costs. Do you have $40,000 to put towards this home purchase? Or can your family help you come up with approximately $40,000?

FANTASTIC! With an annual household income of above $75,000 it appears that you would qualify for a home in the $350,000 and above range.

Now let's talk about the money you have saved up for down payment and closing cost.

Let's add up all your money. This will include money in checking, savings, CD's, brokerage and stock accounts, IRA's & 401(k)'s and cash saved at home.

Do you have family members, relatives or friends that can help you come up with at least $10,000?

Great! We're making headway. Final question. Your credit. Please estimate your credit rating.

Great.

Based on your income, available funds and estimated credit profile, it looks like you may be able buy a home of your own.

Now let's set up a time to have a 5 minute simple conversation.

Using the calendar below, let's set up a time for an easy conversation.

OK. Let's get going on this.

Please use the calendar below to set up a time to speak.

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Take Our 60 Second Mortgage Quiz Below To Find Out How Much You Qualify For:

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Bill Orr, Mortgage Loan Originator NMLS# 995839 , 22201 Ventura Blvd, #201, Woodland Hills, CA 91364


Omega Lending – NMLS #1532157 is not affiliated with any government agency, including the VA, FHA, or the HUD. Equal Housing Lender.



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