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Sahadat Husan's Advice

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  • 4 Contributions
  • 0 Best Answers
  • 0 Helpful

Sahadat Husan wrote:

My credit is not good. I have 15k to put down on rent to own property without credit check.

Answer
My best advise for you do yourself a big failover put your position as a seller and think exactly what's this seller is thinking. You will find most of the answer. Just think about free stof cost you in the end. Owning a home it's American dream I am a conservative I always think about negative and positive. Make sure get a advice from a lacal realtor and attorney. My advise: please fix your credit it's a great market buy a home with the price you want to pay not what seller telling you to pay there are so Maney company out there helping people to fix there credit thanks
December 17 2012
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Mortgage qualification when already owning a rental property?

Answer
Your one family home you can rent it out no problem, but you can buy another one family home in a better lactation how ever lander will qualify you with debit to income ratio and they will also count your original one family rental income as a income so it would not going to hard you too much. becarefull when you file your tax return what ever rental income you report to IRS that what will count. I hope i have answer your question.
December 15 2012
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what if you have bad credit and no money to put down, can you buy a foreclosed home?

Answer
It's very hard one, best of my knowledge this kind of mortgage does not exist in this market. My best advise to you : bad credit mean you are not responsible 2ndly no money mean you are not ready. Fix your credit be ready financially have six month reserve you will enjoy home ownership, I hope I have help your question.
December 14 2012
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At what down payment does the lender give approval if you can fog up a mirror?

Answer
First you have to qualify for a amount of the mortgage base on your income, credit, debit Ratio then down payment will depend on how many unit house you want to buy and if your are first time buyer or a investor. If you are first time home buyer and buying a one to three Family home and if the mortgage is FHA you may put as low as 3.5% down if is a investment property you may put as low as 20% down if is it a commercial property you may have to put 30% down depend on the investment bank you are working with every bank have different program to quailify you I hope I have answer your question.
December 14 2012
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