Zillow Advice: Home Buying - desprate to buy

"The post is 2 years old."LOL ...

Sat, 20 Jun 2009 00:14:00 GMT

"The post is 2 years old."

LOL looks like someone else is "desprate".

The post is 2 years old.Hopefully ...

Sat, 20 Jun 2009 00:12:00 GMT

The post is 2 years old.

Hopefully dreamgurl, took some real advice and chilled (didnt buy)!

DreamGurl -- How long ago ...

Sat, 20 Jun 2009 00:05:00 GMT

DreamGurl -- How long ago did you look into getting approved for a loan? Has your credit/income situation changed at all since the last time you were not approved for a loan? You should know that along with speaking with a "regular" loan officer, there are private lenders available. A private lender may be willing to give you a loan but the interest rate would be higher than a traditional loan. If you were to get a loan w/a private lender, you could refinance your loan a few years down the road, when your credit would be more stable, at a lower interest rate. If you are looking to purchase a home in the central Florida area, please call me and I will be happy to do some research for you. If it's at all possible for you to purchase a home; now is the time. Interest rates have already begun to climb but the price of homes is still very low. Another thing to consider is if you close on a home before December 1, you might be eligible for the (up to) $8,000 tax credit. If you have further questions, please e-mail me directly at CBenwayRealtor@yahoo.com.

I know many private lenders ...

Wed, 12 Sep 2007 21:56:00 GMT

I know many private lenders that wouldn't beat you up. around 7.5 or 8%, but you can't early pay off for three years.

Dreamgurl....where are you ...

Wed, 12 Sep 2007 21:53:00 GMT

Dreamgurl....where are you Florida?

I think that if you're not ...

Wed, 12 Sep 2007 21:32:00 GMT

I think that if you're not ready to buy now you may consider to offer a landord interested in selling a lease option. In California, a lease option is basically a rental agreement with a future promise to purchase a home within a certain amount of time (usually a year). Then, part or the whole amount of your rent payment is credited towards a down payment. In my opinion, I think that it's a great way to purchase a home at a later date, because although it's a lease option agreement, you're not committed to purchase the home upon the end of the lease agreement. However, the landlord IS obligated to sell you the house at the end of the agreement at the purchase price that you both agreed on when you first signed your lease. In addition, I think that it's a great way to put your rental money towards a down payment while working on improving your credit.
In addition, please keep in mind that the landlord may or may not require you to come up with some money up front which is not refundable. However, I think that it would be very beneficial for you while at the same time providing a landlord/seller with somewhat of a peace of mind knowing his or her home will most likely be sold within a certain period of time.
Please check with your local realtor and lender what the best approach would be in your case based on your current financial situation.
Best Wishes,
Maria Horat
Broker/Owner. Realtor
Gold Country Properties & Financial

30sRedux, good post for information ...

Wed, 12 Sep 2007 13:01:00 GMT

30sRedux, good post for information for Dreamgurl. Another option may be a land contact as well.

*Get you started ...

Wed, 12 Sep 2007 12:37:00 GMT

*Get you started researching*

"Iam new to this site and ...

Wed, 12 Sep 2007 12:05:00 GMT

"Iam new to this site and this is my first topic so be easy on me"

--Okay

Here is a link to get you started:

http://tms.ecol.net/realestate/leaseopt.htm