Home Buying in Chicago>Question Details

eat126, Home Buyer in Chicago, IL

Do you know of anyone willing to sell a 2 bedroom home with a garage on contract? My credit is very good but my income is too low for a mortgage.

Asked by eat126, Chicago, IL Wed Jan 1, 2014

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11
Work with Mary Kay Laurent. Unless you have something on your history that would keep you from buying the home with a mortgage why by a house under contract where the buyer will charge you a higher interest rate?
1 vote Thank Flag Link Tue Jan 14, 2014
If you haven't done so already, speak with a lender and get yourself preapproved. If you do not qualify, then set goals as to what you need to do in order to get there.
Web Reference: http://www.BJDLOANS.com
0 votes Thank Flag Link Mon Mar 10, 2014
Call Bernard Duganzik for a mortgage at 847 508 0190. He's with Key Mortgage. If he can't get you financing, he can advise you on what steps you should take so that you can obtain financing in the future.
0 votes Thank Flag Link Fri Jan 3, 2014
Its highly doubtful you will find someone to do this, but not impossible. Maybe you can have a Realtor look for properties where the owner will do "owner financing". Maybe a seller will work with you
0 votes Thank Flag Link Thu Jan 2, 2014
Happy New Year,

You might want to spend the next year saving for a sizable downpayment - unless your income raises or your lower your debt, there isn't much you can do. Check out my website and downloan our free eBook "Demystifying The Mortgage Process" that helps you understand what lenders are looking for and how to pre-pare for Life's Biggest Purchase!

http://www.guaranteedrate.com/MaryKayLaurent

You need to make sure your payment plus monthly debt payments (mortgage PITI, credit cards, car payments, school debt) is 45% of monthly gross income.

If you are self employed - keep in mind that non-reimbursed business expenses are not eligible to add back into your gross income.

Good luck, give me a call to review,

Mary Kay Laurent
Associate Vice President of Mortgage Lending
marykay.laurent@guaranteedrate.com

http://www.guaranteedrate.com/MaryKayLaurent

o: 773.516.6859 - m: 312.403.4150 - f: 773.516.6014
3940 North Ravenswood , Chicago, IL 60613
NMLS ID: 870598
The highest compliment I can receive are your referrals!
0 votes Thank Flag Link Thu Jan 2, 2014
not really..keep renting your day will come
0 votes Thank Flag Link Thu Jan 2, 2014
No one will sell 'on contract' when the market is as good as it is and why would they do it if you cannot get a mortgage???? Why would they want to believe that in the future you can get a mortgage?
0 votes Thank Flag Link Thu Jan 2, 2014
Did you speak with a lender about your credit and income? They have programs that can help you out.
0 votes Thank Flag Link Wed Jan 1, 2014
You can try for a rent to own, but these arent really popular in Chicago.
0 votes Thank Flag Link Wed Jan 1, 2014
Hello,

There are some good properties available on a low budget. Give us a call and we will show you some.
0 votes Thank Flag Link Wed Jan 1, 2014
I have a good townhouse with garage at a very low price of 95k
Send me an email at barcelonarealtor@gmail.com
0 votes Thank Flag Link Wed Jan 1, 2014
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