â€¢ Insurance coverage. For example, medical, auto, life, renterâ€™s insurance
(not payroll deducted)
â€¢ Payment to child care providers â€“ made to a business
â€¢ Retail stores â€“ department, furniture, appliance stores
â€¢ Specialty stores; rent to own. For example, furniture, appliances
â€¢ School tuition
â€¢ Medical bills not covered by insurance
â€¢ Internet/cell phone services
â€¢ Automobile leases
â€¢ A documented, 12-month history
Please feel free to call me when you are ready.
Xena Vallone, Broker Owner
Xena Vallone Realty
First thing is to start building your credit and most importantly to always pay ideally the entire credit card due payment when it comes....and at minimal to pay the amount stated as acceptable. (I always pay the entire amount due).
Get a credit card that will give you cash back, like Discover, or open up a Schwab account because they have a card that will put 2% cash into the account for you for each dollar spent. That is a good way to build credit AND have money to put into a mutual fund eventually. All you have to do is open a general brokerage Schwab account to do this.
I'd love to sell you a house, but I suggest you stick it out with his parents a bit long and build you credit. However, if you want to work with Coldwell Banker, my firm, call Joan Marie Bazo at SunBelt Lending and ask her on the phone if you can buy something with your financial situation and lack of credit. She is wonderful and can tell you in a nutshell if it makes sense.
There are plenty of houses on the market right now....so take your time. Better to make your buy an intellectual purchase rather than an emotional one. Of course, I'd love to sell you a home and there are so many even new construction homes available now for rock bottom prices.....but better safe than sorry. It would be awful for you folks to end up getting yourself into a financial pickle.
It is wonderful that you have saved $10,000 that is $5,000 more than I had when I started investing in real estate. But why not keep building on your cash so that your monthly note will be very low, build up some credit by charging EVERYTHING to a credit card that gives you cash back (always paying it off each month); and buying in December or next year.
Although the $8,000 new home buyers incentive is supposed to end in December of this year, there is talk that next year there will be even a larger incentive. Maybe there will be, maybe not. But if you wait just one more year, and save, and put all your expenses on a credit (all the gas you use, all eating out.....whatever else you spend money on) you will have that much more cash AND credit.
As you can see, I'm a better safe than sorry kinda person....you are a dreamergurl....I'm a realist. But dreams do come true, you just have to plan a bit more for them to not become nightmares.
Joanmarie Bazo - Sunbelt Lending can be reached at 941-730-2972 tell her you are working with Karen