What are the chances of buying a home with 10% downpayment but good credit score (750+)? (Grew up locally in in South East Daygo)

Combined income ~180k

Any tips or advice is appreciated too!

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I’m suspicious you’re a local because no SD local calls it “Daygo” 🤨

likefunny

I suspect you're not in touch with the common folk because born and raised locals in the trenches absolutely call it Daygo, especially in Southeast, Spring Valley, City Heights, Logan Heights, Bonita, National City, downtown Chula Vista, even Oceanside, Vista, Escondido, and East County when talking about happenings in the region as a whole (excluding the rich areas). Ever heard of DaygoTV?

You can buy a $1,050,000 home with 10% down and good credit, no debt.

For every $60/month owed in auto, revolving credit debt or proposed monthly Homeowner Association dues, reduce that purchase price by $12,500.

If you have student loans, every $12,000 in student loans is equal to $60/month at best case, so think of student loans reducing your purchase price dollar for dollar.

Keep in mind when you buy your home too, you can save money on taxes by itemizing: maximum 10k state and local sales tax, property taxes, mortgage interest (up to $750,000 on primary home when filing jointly).

Why don’t you DM me when you’re ready to get started? I moved from the Silicon Valley to San Diego for housing, I love this stuff.

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I'd love to know too haha

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Probably Filipino if your from se daygo

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I’m in escrow right now. I didn’t even put 10% down. All depends on how much the house is you’re looking for.

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I've personally seen people get a house with 10% with a credit score lower than that

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Sometimes since the market is so competitive, you'll have to pay more than 10% downpayment to lock down the house. I would recommend saving for that plus an additional 5-10%

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Can confirm. People do call it Daygo if you’re not from the boujie parts #barelyseethebeach but yes, can use FHA loan with >=3.5% down but will likely have PMI

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I have never understood why people live in east county. Just move to AZ, it’s cheaper!

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