Home Buying in 63116>Question Details

Martha Stewa…, Renter in Saint Louis, MO

Buying a House w/husband

Asked by Martha Stewart, Saint Louis, MO Sat Jun 8, 2013

Husband is working w/student loan agents to clean default should be taken care w/n 6 more months . My credit is a 600. Looking into a house that is 149,000? Is that unrealistic?

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4
There are some great houses in that zip code...Tower Grove is a fun area with the park right there. I have a resource that can help you to be ready to buy in 6 months time. Shoot me an email or call if you're interested.

He's helped a ton of people and I think you will really like him.

Penny Davis
Davis.Penny@gmail.com
314.495.9089
Red Key Realty Leader
1 vote Thank Flag Link Sat Jun 8, 2013
Hi Martha,

It is realistic to apply for a loan after your student loan is out of default. You will need to be pre- approved for a loan afterwards. This will tell you exactly how much you can qualify for. Your loan amount depends on your income and debt ratio. Do not know a good lender that can help you? I will be more than happy to suggest a few for your to choose from if needed. Tell me about that home that you desire to move into?

Paquita Clark, Realtor -Sales Associate
Prudential Alliance, REALTORS
314-456-6444
http://www.paquitaclark.com
pclark@pruall.com
0 votes Thank Flag Link Sun Jun 9, 2013
You need to start by sitting by sitting down with a good lender who will work with you to help ensure that your credit reports are cleaned up and everything is done to get you ready to buy on your timeline. I highly recommend that you use a lender and a Realtor who are certified with the Beyond Housing Program and can assist you with getting first time homebuyer assistance monies as well. They will sit down with you for a one on one consultation to discuss your needs, go through your options with you and help guide you through the process, ensuring that your questions are answered upfront and as they come up. Terra Ritchie is an excellent mortgage lender who is certified by beyond housing. She can be reached at 314-276-6755. Give her a call
0 votes Thank Flag Link Sat Jun 8, 2013
Hi Martha,
Typical mortgage lenders will look at the combination of credit scores, income, debt, and assets to determine your borrowing power. Based on the few parameters you posted, it doesn't seem to look great at this point in time,, but the question should be posted to lenders more than to realtors.
There is one lender in town I am aware if that doesn't do just this traditional assessment: NACA.com
Sebastian
Goodman Bautz
314-485-9001
Web Reference: http://NACA.com
0 votes Thank Flag Link Sat Jun 8, 2013
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