Congratulations on your decision to begin building personal wealth through homeownership! I specialize in assisting first time home buyers ensuring that they are prepared throughout the process.
I encourage you to participate in a home buyer's class which covers every phase of preparing to buy a home. We spend a lot of time focusing on credit, financing, and budgeting because in answer to your question, this is where you start. We help you understand reviewing your credit as well as addressing any items that should be corrected and/or removed from your credit report.
You'll get a chance to hear from a lender and ask various questions regarding the entire process. We also address various down payment assistance opportunities designed to help qualifying first time home buyers get into a home.
Our next class is Saturday April 23, 2011 from 8:30-4:30 at Goodwill Industries located at 37 Herman Street, Nashville, TN 37208.
This is a certified THDA course which will give you access to free down payment grant money when you are ready to buy your home. The certificate is good for a year which gives you plenty of time to address any areas of concern related to your credit and/or credit score.
If you're unable to attend, I encourage you to contact me if you'd like to schedule a private home buying preparation consultation.
All of the best to you!
You might have more options than you think. If you donâ€™t mind sharing your monthly rental expenses (estimated, general number) Iâ€™m sure the agents on here would be happy to suggest some homes that might be more attractive to you AND beneficial to you each moth than your apartment.
What areas of town have you considered buying a home to live in?
Kevin Pellatiro http://www.trulia.com/profile/kevin/
Hoping to help you take advantage of the market â€“ when you are ready.
(615)714-7918 | email@example.com
What a great email name!
First things first...meet with a lender or financial planner to determine the condition of your credit. Feel free to meet with several lenders until you find someone you trust, and has a proven track record in working with clients in your situation. A lender or financial planner should be able to guide you through "cleaning up your credit" if that needs to happen, or provide you with information on how best to establish credit, save money for a down payment, etc. Also ask them for advice on calculating the true cost of home ownership.
Once you know where you are financially, meet with a local real estate agent in the market where you want to live. Realtors are a wonderful source of information about schools, traffic patterns, home values, etc. They should be able to provide you with home value trends as well.
Congratulations on taking the first step, and thinking about how to position yourself to purchase a home.
If you decide to move to northern California, feel free to talk with me about our local real estate market.
Founding investor, Keller Williams Realty, Nashville
You really ask two questions here. First, as mentioned by Bambi, a mortgage broker can help you figure out how to improve your credit score or give you some advice about getting a loan with your current score. In the meantime, you might check out this blog post for some basic and general information about credit scores: http://www.trulia.com/blog/rovtar/2009/11/understanding_your
Secondly, you asked about rent-to-own homes. Often a real estate agent can help you with this, but you might want to start by googling "rent to own" or "owner carry" and the city, state or county in which you want to buy. You should come up with some sites that list such homes and, perhaps, even some listings uploaded by owners or agents in the area.
I hope this helps.
First things first. Lease/Purchase's can be a good option for some people. It is largely dependent on what your credit score(s) currently are. If your score(s) are even decent, it might be a good idea to speak with a lender so you better know your options. I work with several who would be good choices for you to talk to. They can also help you get on a path to better credit if that is what is needed.
Your first step in any course of action is going to be to speak with a Realtor. You need to get someone on your side who will have your best interests in mind. Myself or any of the other people who respond to this would be good places to start. That person will help you with a road map for home ownership.
Feel free to ring or email me with any questions.