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Looking to buy first home and need some advice

We would like to buy within the next year or so, or sooner if possible. My husband just started a new job with an oil company in Louisiana so his income will consistently be going up each year. Is there a certain amount of time we have to wait since he just started a new job? I have been at my job for almost  eight years.  My husband went through a few layoffs over the past few years  and our credit took a hit, mostly mine and now we are trying to get back on track. We both have some areas of our credit we need to fix, but we don't know what we should payoff or not? or when? and how to get our scores up. Some things are from almost six years ago. We just need help with fixing our credit and getting set on the right path to actually being able to own our own home. Any advice is welcome. Thank You.
  • July 29 2014 - Tampa
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Answers (7)

Profile picture for AlmaKee
Check out [contact information deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines].  It has a wealth of info on this subject.  They also offer a debt relief program but I'm not familiar and can't recommend them.  The website has extensive details and questions and answers that may help you.

All the best,
Alma and Teresa
Sold On Tampa Team
  • August 20 2014
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First, check with where you bank to see if they have credit repair programs. Then, if they don't, there seems to be a consensus on working with a lender who has a credit repair program that is detailed: one that will look at each of your incomes, expenses, credit history and current loans and basically tell you what you should do and the estimated impact on your credit for doing that action. 

As for the real estate side, something can be said for picking one Realtor that you know, like and trust. A big plus in the Tampa market is someone who knows the area that you will be shopping for, or someone who works with buyers throughout the Tampa Bay area, depending on where you think your search will be.

I also agree, you are doing the exact thing you should be...getting advice from a variety of sources.

Good luck! 
  • July 31 2014
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Start looking for a realtor that you connect with and trust. He will be able to refer you to a lender who will be goal specific and help you create a target to get you in to your dream home with the help of your realtor.

Best of luck to you!
  • July 29 2014
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Speak with a lender who is willing to work WITH you to help you get where you need to be. Many lenders will do that for you.

Good luck!
  • July 29 2014
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Depending on who your lender is will determine what you will be required to fix. I have a company that I use that understands our guidelines and then when the credit has been repaired they send you back and we move forward with the mortgage. Your stability in employment is excellent and I am happy your husband has found a good job. There is really no way of telling what needs to be repaired un less I see a credit report. annual credit report dot com provides you with a free annual credit report. I would be willing to look at that for you and give you a good idea of the best approach to doing it on your own since you have some time.
  • July 29 2014
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You have taken the first step and seeked guidance.

There are definately things you want to know about credit before you start trying to repair your credit so speaking to someone like myself who has over a decade of experience helping individuals like you improve your credit would be the first step. I can walk you through what you should pay and what you should ignore as more times than not, paying the wrong items can actually hurt your credit rather than improve your credit.

The next item, employment, is hard to answer unless we get a complete timeline of your husbands employment history. Even if he has been laid off several times, he may be eligible for financing simply after one month of employment with his current employer. If your husband has been out of work for an extensive period of time like 6 months, then that would require being back to work for at least 6 months according to guidelines.

Please feel free to contact me and I can walk to you through the process and I am local and would be happy to meet with you face to face. Thank you.
  • July 29 2014
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You need to go speak with a lender, who can review both of your financials and give you an detailed explanation of your options.
  • July 29 2014
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