Profile picture for PaolaEcheverri

How can i buy a house

I am new to this, this will be my first home.  and I am getting the itch.. I have a cosigner my husb. Our credit is not full of bills just stuff from the past that keeps haunting us. I have not gone to the bank or anyone for information, because I cannot make up my mind, and scared of being rejected...looking for my first home/ single family home pref. with backyard 3/2 and spacious..
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April 27 2013 - Pompano Beach
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You will need to talk with a lender first. It would be best to get pre-approved ahead before you start looking for a home so you know what price range you can afford. Offers require a pre-approval letter of some sort.
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April 28 2013
You definitely should contact a lender first.  I am a real estate agent and can tell you that determining if you can obtain financing and if so, for how much IS your first priority when thinking about buying a home.

I know how scary and overwhelming the process can be for 1st-time buyers however you would not want to fall in love with a home only to find out you cannot get financed.

Once you go through the initial process phase of the loan approval process then you will be pre-approved for a certain amount.  You can then confidently enjoy your home search with the assurance that your financing is in order...that being said - Don't go looking at homes your budget won't allow!  This is counter-productive.

Best Wishes!
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April 27 2013
Profile picture for Dunes ..
I would suggest becoming as informed as possible about options, the process, whats available, what to watch out for..

Selecting a Lender or an RE Agent is an extremely important decision, part of an huge financial transaction/obligation..you are not buying a Pizza so don't treat this important selection process as if you are
It's your Money/Financial obligation so Shop Smart

A lot of the decisions are gonna be based on the market/area you intend to spend a sizable hunk of money in....might be good to get out and check it out

You want to work on that Credit Score

In case you're interested here are some excellent resources, places of info imo...

First Time Home Buyer Info about the Process & Excellent Info/Resources for any Buyer..Buying a Home

Provided by the Federal Gov..Info on their Loans/Programs
Find the Right Loan, you can search for specific information, compare options, or take a short questionnaire to determine your eligibility for each program. GovLoan.com

Department Of Justice
Anti-Trust Division Web Site about all the options Consumers actually have
New business models are emerging that allow consumers to save thousands of dollars when they buy or sell a home


Consumer Financial Protection Bureau
Well worth a look imo

Many Banks have created Sites for the Public to use (For Free) to view and find Information about the Properties they have Listed for Sale
Sites Like..Bank of America...Wells Fargo

You can find links to Bank sites here...Link

The Fed Gov has Sites for its Properties for sale/Info on programs
HUD Homes...Fannie Mae
You can find the links to all the Gov sites here...Link

Best of Luck
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April 27 2013
Profile picture for wetdawgs
Here's a link to Zillow's Buyer's Roadmap series of articles. They will familiarize you with the process.   In addition, you can go to the library and pick up some books on the process.

Before you even look at homes, you'll have to deal with the financial aspects and get pre-approval.



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April 27 2013
I was also afraid to talk to anyone before I bought my first house, Paola. Here is an article about the buying process to help you understand how it works: [blog link deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]

If you talk to a real estate agent in your area, they will be able to help you find the right mortgage lender to work with. It's okay if your credit isn't good enough right now. A good lender will show you what you need to do to improve it so that you can qualify. I had a client that the lender thought would take 6 months to get her credit up but this lady was so motivated, she did it in 2 months. We found her a home, she bought it, and she and her son are still very happy. 
Best wishes to you!
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April 27 2013
 
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