first house
- Thread starter armison89
- Start date
DEEP BLUE SIX
New member
broker
broker
Try finding a really good broker. One that can be trusted... But is still willing to go the extra mile on hunting a way for you. It's tough right now. But someone good with the motivation to secure a loan may be able to find a way. Especially when they have a reason to.
Example: you'll need a good RE Agent to look at houses once you know your range. It's best to find out first(your range) and get pre-qualified. But a really good agent will have connections to an excellent broker for various loans.
The relationship some of these people have in selling.. is often motivation enough to find a way to qualify you. Especially if your a first time buyer. It may take some time. But have patience. Try looking some agents/Brokers over.
broker
Try finding a really good broker. One that can be trusted... But is still willing to go the extra mile on hunting a way for you. It's tough right now. But someone good with the motivation to secure a loan may be able to find a way. Especially when they have a reason to.
Example: you'll need a good RE Agent to look at houses once you know your range. It's best to find out first(your range) and get pre-qualified. But a really good agent will have connections to an excellent broker for various loans.
The relationship some of these people have in selling.. is often motivation enough to find a way to qualify you. Especially if your a first time buyer. It may take some time. But have patience. Try looking some agents/Brokers over.
FSU3NOLES28
New member
I agree here. Finding a good broker is the way to go. They are able to look for loans for you from several places, not just going to a bank and applying for a loan through that bank.
My brother knows a guy that we got our loan through out in Buffalo. He went the extra mile for us and everything worked out quite well.
Too bad he found another job last summer or I'd give you his contact info.
rjmayes34
New member
the good part about land contracts is you will probally get a better rate than at a bank, with bad credit.
Talk to a lawyer and they will tell you the route to go. Then you have to find a house that you like and that they will hold for you.
Or look into a double for now and rent out the other half, then when your credit is better get a house and rent both sides of the one out since its not on the books the you have a home loan.
Just my thoughts....
Talk to a lawyer and they will tell you the route to go. Then you have to find a house that you like and that they will hold for you.
Or look into a double for now and rent out the other half, then when your credit is better get a house and rent both sides of the one out since its not on the books the you have a home loan.
Just my thoughts....
first if you have less the a 600 credit good luck. we are in the process of buying mine from my mother inlaw. first time home buyer works great and getting a fha is the way to go. call a reality agency try in a small town first they try the hardest to get you to be there client then they will point you in the right direction.
Capt_Cully
New member
Not to hijack, but what is a land contract?
teamdulski
The Saltiest!
It's essentially like a private mortgage, someone else buys the house for you and you pay that person back.
Armison, clear out your pms.
Armison, clear out your pms.
IronMan72
New member
+1. FHA are backed by the gov't and have much relaxed requirements. Usually require that you satisfy any outstanding judgments. They have low down payment requirements, like 3% of the loan and will write the note for around 30% of your income. I know a few people that have gone this route after the bank laughed at them. If your a veteran, the VA offers similar loans as well.
