Home Buying in Sandy>Question Details

Melissa, Other/Just Looking in 97049

Anybody want to give us some cash???

Asked by Melissa, 97049 Wed Jun 1, 2011

We want to buy a house, anybody want to help us, or buy one for us?

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7
I might have helped; but you didn't say please.
Web Reference: http://www.321property.com
1 vote Thank Flag Link Wed Jun 1, 2011
Homes that have been foreclosed by one of several US government programs can be purchased with little or no money down, and sometimes assistance with closing costs as well.

There are several commercial "lookalike" web sites, but the one from Housing and Urban Development is the best place to start. It's at

http://portal.hud.gov/hudportal/HUD?src=/topics/homes_for_sale
0 votes Thank Flag Link Wed Jun 1, 2011
I have an email address from a guy in Nigeria that will give you all you need and then some.
0 votes Thank Flag Link Wed Jun 1, 2011
Hi - I've got some great local lender options for you:

1. Guy Evoniuk with Plaza Home Mortgage: 503-341-0240
2. Wade Ferguson with Wells Fargo: 503-333-6522

Both are exceptional lenders and each have a little different programs and requirements.

Another great option is to contact Keybank here in the Portland area - they have a 100%/zero down payment loan program with no private mortage insurance (saves you about $100 - $150/m in your payment over an FHA loan). Sellers can contribute to your closing costs so you can get in for very little out of pocket costs. The interest rates on this program are great!

Hope that helps! Let me know if I can help further.

Kelly Gebler, Principal Broker
Keller Williams Realty
503-516-1637
LetUsGuideYouHome@comcast.net
0 votes Thank Flag Link Wed Jun 1, 2011
That's great that you want to buy a house! First step is to sit down with a mortgage broker or lender to determine what you qualify for. A lender will also be able to give you an idea of what you need to do in order to get prequalified. Key points: you need money for a down payment & closing costs. Minimum downpayment for an FHA loan is 3.5%. But there may be down payment assistance programs in your state where you only need to come up with $1K. Closing costs can often be negotiated so that the seller pays them, or a portion of them. You'll need a decent credit score. You'll need to have decent income and low debt. If you don't have these things, then it's time to get to work. Pay off debts and save save save!

Also, keep in mind that owning a home costs money and you are the one that has to pay for things when something breaks! Even if you had downpayment saved up, is that going to wipe out all of your savings? What happens when the water heater goes out, and floods your basement? or when the furnace stops working next January and your pipes freeze?

I am a huge advocate for home ownership, but some people just aren't ready for that kind of responsibility. Good luck!
0 votes Thank Flag Link Wed Jun 1, 2011
Me too please.... In the mean time Melissa your best bet is to meet with a local and trusted mortgage broker, they can prequailify you at no cost, they will look at your credit plus your financials and let you know if there are any mortgages that you may quailify for. If you do not quailfy now, they can tell you what you will need to do in the future.

http://www.trulia.com/blog/scott_godzyk/2010/10/where_do_i_i…

Please see my blog with tips and advice on getting a mortgage in todays market
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Wed Jun 1, 2011
Wow.....how did we get to this point?
0 votes Thank Flag Link Wed Jun 1, 2011
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