How hard is it to get a mortgage?

LP1. What is your annual income (base, bonus), what are your current debts. and what field are you in?

This is just as important as your down-payment in today's environment/

Depends on whether you are financing a coop or a condo. Some banks are now requiring 50% down for coops. Excellent credit score these days would have to be 730 or above. Future earning power and security of income is critical as bugelrex noted. Is this purchase based on your income alone or a partners' as well?

It took us almost a month to get a committment from Chase with very good credit scores, ample liquidity and solid income. We were buying a coop and asked for an exception so that we could put only 35% down which delayed things. Wells Fargo is more flexible about down payments based on my understanding and some mortgage brokers might be able to help.

So youre looking at a 800k loan amount with 20% down or 40% down? Whether its a coop or condo, if you have good credit and income qualified then you shouldnt have any problems qualifying. We can finance 80% up to 1.5M and 75% up to 3M. Rates vary depending on down LTV. If youre looking for a fixed product then Chase and Wells doesnt compare. sunny_hong@countrywide.com