Profile picture for tonigirl38

buying a home

we are trying to buy  ahome but hey need  40000 down  an we do do not have that kind of  money.  the  place we are trying   is  owner financed  an we were wonderinf if  your lenders would  be  willing to  lend the  downpayment.for a new  built home on lake  frount proptery. our  dcredit  scores are low but we have  enrolled  into a progran to  bring  them up. my husband  makes  great money an as of  right  now  we have no  bills at all. so  paying  for this is not a problem . its just we need a chance to prove this.
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May 09 2010 - Porum
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Unless theres a new loan program available that im not aware of. But you have to meet ALL the banks guidlines in order to qualiy for any loan period. The banks are also a money making business. So  i doubt theyre willing to give a chance to anyone that wants to prove themselves.  

Rgds,
Alonso E. 
C21 - Exclusive Properties.  
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May 09 2010

Before you do anything else, hire an attorney to represent you in this or any other transaction. Review all documents with the attorney before you sign anything.

Now, and I don't mean to come across as rude, it should take no time at all to save $4K if your husband is making "great" money.

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May 09 2010
Hi jkonstant is not $4,000 they need its $40,000.  To the buyers, I say, wait until you are ready to buy, obviously for whatever reason you are not ready, now.  Talk with a lender to ascertain what, if anything, you are able to buy now.  If you do not like what you hear, ask the lender to work with you to put you on plan that will allow you to buy what you want when you are ready.  Maybe that is program you have already enrolled in.  The best of luck! 
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May 09 2010
Profile picture for wetdawgs
It appears that now is not the time to buy for you even though you've found a wonderful house.   With the housing market crisis, purchasing has gone back to the old fashioned way.   Spend a couple of years accumulating a  down payment (you have no bills, so it should be easy to save 20% or more of take home pay), work to increase your credit scores, and master good credit habits/money management skills so you can do the best with your husband's great income.

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May 09 2010
Profile picture for tonigirl38
thanks  for the  advice.     we  have how ever sence   checked the  credit  scores  an  his  is pretty  good  i how ever    have a  lot  of  medical bills  but thats it.  so i ddont  know if that will hurt  us  or  not. i think  we have  found a  lender for the  full price of the   home.  with   10%   down  .  an we almost have that  saved  so thankss  for all the  advice  again.
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May 09 2010
 
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May 09 2010 | 5 answers
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