How do I go about getting a first time home buyers loan?
January 19th, 2010 by admin
My husband and I found a house and they’re selling it to us (without a realtor) for under what it’s worth. I have no idea how to go about getting a first time home buyers loan. We actually applied online for one of those preapproved things and because of my husband’s credit score, it said it couldn’t give us a loan. How do we get a loan with his bad score? (Mine by the way is real good). I’d like to buy the house as soon as we can. Someone please help me! Thanks!
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Your best bet in this situation is in my opinion to go to your local banks. There you can sit face to face with someone who may can give and take to get you approved if possible. If not, they may can suggest alternative means of financing your home. Good luck!
you can look for FHA, HomePossible, MyCommunity mortgages…..they help all the first time homebuyers
Fix your husband credit score. Without doing so, you can only use your income to qualify – meaning you probably won’t.
The worst thing you could EVER do is buy a house with bad credit. that’s just asking to foreclose in 3 years.
Here are many first time home buyers programs available. You may start by calling the city Housing Office in your city or the county housing office
you can fined homes in the news paper and some will do it contract for deed
A few questions: How do you know the house with worth less than asking price? What information are you using to make that determination?
Why do you want to buy a house without representation?
Why are you shopping for a house without knowing if you can get the money to pay for it? Why are you trying to buy a house without knowing how much it will cost you to borrow the money for this house.
It sounds like you have put the cart before the horse. It sounds like this is almost an impulse purchase. That’s fine when its a new dress or shoes. But it’s very bad idea when its real estate.
Please take a couple of steps back, prepare for the purchase first, then buy. It may only take a week to get an agent, get a mortgage that works for your situation, etc. It may take longer. But trust me, you will make a better decision with some preparation and you will feel much more comfortable with your decision once you close.