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Unspecified, Renter in

Don't have any credit and only 10,000.00 to put down... where do i start..?

Asked by Unspecified, Fri Apr 19, 2013

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Get in contact with me. I have a lender that will help you and lead you in the right direction to establish credit within 30 to 60 days. We can also use alternative credit (auto insurance, cell phone, utilities) that have a good payment history.

It will take some effort on your part as well as the lenders. If you are willing to try and do what's necessary. We can help you purchase a home.

Best regards,

Chris Harrison
Barrett & Co. Realty Inc.
702.592.9510 ph
0 votes Thank Flag Link Wed Apr 24, 2013
Start with your credit score? $10,000 down can get you an FHA 3.5% down house if you have a decent score and work history

David Cooper Investing in Las Vegas since 1994
FREE REO Foreclosure List http://www.lasvegaswinner.org
Give me a Call 702.499.7037
0 votes Thank Flag Link Tue Apr 23, 2013
Good afternoon Unspecified,

First steps:

Meet with a Local Mortgage Banker to get prequalified for mortgage financing. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for.

Get a referral to a good, local, real estate attorney. Call the attorney, retain the attorney so you have her information handy when you make an offer. Having that information at time of offer helps you demonstrate to the Seller how serious you are, and they will consider your offer with more interest.

Line up a Home Inspector. A good home inspector will scare the heck out of you: that's what you pay him for! But you'll concentrate on the fundamentals of the property: roof free of leaks, plumbing, heating and electrical up to code and in good working order. Again, when you make an offer and you have your Home Inspector ready to go, your offer will be considered with much more interest by a Seller because you truly have your "ducks in a row" and your preparation demonstrates your serious attitude about conducting the purchase transaction in a timely manner.

Find an experienced Local Realtor who works in your desired shopping area. A serious pro Realtor will refuse to show you homes until you are Prequalified for mortgage financing. Don't take offense! That Realtor doesn't want you to be disappointed and wants you to have a smooth experience as you shop for your new home.

Put together your Team of real estate professionals and shop 'til you drop!

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
185 Great Neck Rd, Suite 240
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
0 votes Thank Flag Link Tue Apr 23, 2013
You first step should be to contact a loan officer. If you need a referral to a good one email me and I will put you in contact with the reputable lenders we work with.

If you have no credit a good way to start is opena credit line such as a car payment or credit card. If you can not get approved for either you can go to the bank you bank with or a credit union (I recommend credit unions over commercial banks) and ask them for a "secured credit card". This will require you to put the money say $500 for example into an account. The bank/credit union will put a freeze on the $500 and issue you a credit card with a "secured" $500 limit. After you make your payments on time for about 6 months you can reapply for an "unsecured" credit card. At that time they will release the freeze on your $500 and then it will work like a traditional credit card and it will help you build your credit. Make sure you only charge what you can afford and pay it off each month.

If you would like to discuss an investment strategy further please feel free to contact me directly.

Best Regards,
Robert Adams
The Adams Team at
Rothwell Gornt Companies
0 votes Thank Flag Link Tue Apr 23, 2013
I was always told that no credit is better than bad credit. Call my favorite loan man, John Ingram Shelter Mortgage, and ask him what you qualify for. His number is 702-324-1683 or 702-361-1689.
Then call me to find a house for you. Judye Phebus 702-595-1229, Prudential, Americana Group, REALTORS. Http://JudyePhebus.com
0 votes Thank Flag Link Sat Apr 20, 2013
Everyone has credit. Check to see what your score is. You have obviously bought something at some time.
0 votes Thank Flag Link Fri Apr 19, 2013
If you want to buy a small home of townhouse now I can put you with a seller that will do OWC or Owner will carry. Call me and I'll tell you all about it, the pros and cons and see if you want to go that way or maybe we can help you In some other ways. Matt 501-0973
0 votes Thank Flag Link Fri Apr 19, 2013
Are you sure nothing is on your credit? If you truly have NO credit & you don't have anything derogatory on your credit you may be able to get a loan...if the lender accepts alternate trade lines.

Otherwise...get a few credit cards, keep the balances low, always pay on time & build your credit.
0 votes Thank Flag Link Fri Apr 19, 2013
Have you actually pulled a credit report?
0 votes Thank Flag Link Fri Apr 19, 2013
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