If I wanted to buy a condo or townhouse for $250000 and put down $70000-$100000 would I get a mortgage easily?

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  • Anonymous
    1 decade ago
    Favorite Answer

    Assuming you have a heartbeat, you will get a loan.

    From there, your credit, remaining assets, income, and debt ratios will all come into play as your interest rate is determined.

    But you can pretty much have been foreclosed on yesterday and get a new mortgage today if you put 30-40% down payment.

    Source(s): 10 years in mortgage banking
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  • Anonymous
    1 decade ago

    Yes. As long as you have a job or own a business and have a credit score above 500 you can get a loan. The higher your score is will determine the rate and terms you get.

    Here is some additional info. Hope this helps.

    Source(s): How much home can I afford? http://www.tomvoli.com/2006/11/21/how-much-home-ca... What rating does your credit score have? http://www.tomvoli.com/2006/11/14/what-rating-does...
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  • Pete
    Lv 4
    1 decade ago

    Yes, because you are putting down far more than the 25% that is usually required. However, the bank will want to confirm that the condo is worth $250,000, that you are regualarly employed, and that you have decent (if not perfect) credit history. Hope this helps.

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  • Anonymous
    1 decade ago

    Yes if you have that type of money to put down it would be easy for you to get a mortgage even if your credit were poor. Feel free to log onto http://www.justgetaloan.net for a fast free pre-aprroval. Our lender will be able to help you find the best possible loan program available for your particular situation.

    Source(s): Jenold Freeman CEO Justgetaloan.net
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  • Anonymous
    1 decade ago

    As a mortgage Broker, even if your credit was circling the drain, you should be able to get a mortgage at a decent rate. Do not get scammed into a ridiculous rate. www.getuapproved.com

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  • Anonymous
    1 decade ago

    Yes. Easily.

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