I wanted to take a moment to introduce myself. My name is Faith Brashear and I am local Broker/ Realtor in the Riverside, San Bernardino area.
If you have been worried about credit being an issue in applying for a home loan or perhaps no money to put down on a home, you may be interested to know that a no down payment with no fees home loan program that is not credit driven is out there in CA. In fact it takes very little funds to close and offers below market interest rates specifically geared for those of us who have not had ownership interest in a home within the last three years.
Below is a link to the No down payment loan program. The rates are typically as much as 1% under current market rates. This is VERY real, so stop doubting. I am here to help you on your quest for home ownership. I am a home advocate, a Broker, a Realtor, and an approved volunteer for this program.
Bank of America and CitiGroup support itâ€™s funding and billions are available for it. These programs are a direct result from the stabilization efforts you have been wondering were real or not. So get ready to read about it from a true home advocate who has been on the front lines getting this program out there to people just like you. You are more than worthy.
Saving the Dream
NACA - HOMEBUYERS PROGRAM http://www.betterquest.com/styled-6/
To register simple click on the Register here for the program link or email Faith@BetterQuest.com with the following information
Last 4 SSN Digit:
You will have to work with a NACA trained Realtor to purchase a home when you have been approved for their loan.
It costs you absolutely nothing to enroll in a counseling workshop and no one who meets programs criteria can be denied as long as you follow the parameters outlined through the workshop. The fixed 30 year rate at 3.375% (as of 9/7/2012).
There are so many cheaper homes now on the market you would be surprised what you see out there. FHA and Acorn or not FICO driven and if income is documented you might have shot at it. I can refer you if needed.
I would also like you to get your credit scores and then see what your options might be. You stated that your income is $52K, but is that what your income will be in San Jose? Do you have money set aside to help you buy a mobile home? I am in the business to help people purchase homes, but I want to you make sure that this is the right financial decision for you. I would be glad to have one my lenders contact you and help you figure out what your options are. I appreciate the fact that you don't want pay rent when you may be able to purchase your home, but you must take care of first things first.
I wish you the best on your move back to San Jose!
A mobile home is certainly one option, but it may not be the best. Often, they offer inexpensive housing, but they're not really a "starter home."
But first, find out where you really are, credit-wise.
When you say "bad credit" .... what does your credit bureau show on both and what is your FICO's...?
The best thing you could do is get with true credit.com or any of the fine credit sources and study, look and understand it or get with a lender and get their opinion.
You might be better off clearing your credit and coming back into the market in 6 or 12 months .... why pay a crazy interest rate or a loaded up closing figure, when a little time and patience can save you thousands..