Home Buying in Lexington>Question Details

selena mitch…, Renter in Lexington, KY

I am a single mothe looking to buy on 40517 area. Not sure where to start. All new to me.

Asked by selena mitchell, Lexington, KY Tue Feb 5, 2013

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9
Donna Elder’s answer
We need to talk to see which lender's mortgages would work best for you.
There are a number of loans but not all fit every buyer and not all lenders offer the same loans.
There are loans with forgivable grants to help with down payment & closing costs.
There is a 100% loan with no mortgage insurance.
There is a FHA loan with a 3 1/2% down payment.
There are conventional loans with down payments as low as 5%.
There loans for veterans..
Please email me @ DonnaElder@remax.net or call me at 859-983-9107 so we can discuss what mortgages products fit your financial needs.
0 votes Thank Flag Link Tue Feb 5, 2013
Hi- First I think you need to talk to a lender, see if you can get approved for Ky Housing and get your down payment paid for by the state. I was a lender for 9 years before I got a real estate license and got a lot of money for first time home buyers. You can text me and I will get you set up with a good lender that will not screw you. 859-494-1558. The next thing you do after you have found a good lender and you are comfortable with the payment range, then we go looking for houses that will give you that payment (start with your budget and work backwards to how much house you can afford). Once I have a home price, then I will help you find the best home that you can afford. I hope this helps. I am availalbe to answer questions via text or email anytime or you can call me at 859-494-1558.
Stacy Heilig
0 votes Thank Flag Link Tue Feb 5, 2013
Please send me a list of criteria that you are wanting in a home. I will provide you with a list of homes in the 40517 area that meet those criteria. This will help me great a better understanding of what you desire in a property.

I am looking forward to hearing from you and working with you.

Thank you for the opportunity,
Jennifer Divine, Realtor
859-582-7479
0 votes Thank Flag Link Tue Feb 5, 2013
Be sure to check the MCC tax credit when you visit Your-Road-Home.com
0 votes Thank Flag Link Tue Feb 5, 2013
Hi Mitchell

The answers to these questions are critical to the direction you take and will receive lots of different answers. My suggestion is to vocus on finding an experienced ethical loan officer who works for a lender that offers all of the loan types. The loan offiers will only offer what their lender has available. Your-Road-Home.com is a good source of useful unbiased information. The articles in the Financing segment will serve you well. Also the article Consultation,Interviewing Loan Officers. The articles are number in the order of a step by step process. After you have gathered information you will find there are agents availbe on the Turlia site and you will have the right questions to ask. Good Luck and by the way your market timing is perfect. Stephen Webber
0 votes Thank Flag Link Tue Feb 5, 2013
You may want to start by contacting a lender to discuss getting pre-approved for a mortgage. This will let you know what price range you should be looking based on the monthly payment that you want. I work with several lenders and would be happy to give you their contact information. It is also in your best interest to contact a Realtor. Explain to them the criteria that is important to you so that they can assist you in finding a home. You may contact me anytime at jennifer.parsons@remax.net or 859-351-1747 if you would like me to help you with this process.
0 votes Thank Flag Link Tue Feb 5, 2013
The first thing you need to do is talk to a realtor about the process of buying a home. I can answer any questions you have regarding financing, contracts and the entire process from starting to look for a home and finally purchasing your home. My email address is Gina.Phillips@insightbb.com, send me your contact information and I will call you to answer any questions you may have. Thanks, Gina Phillips
0 votes Thank Flag Link Tue Feb 5, 2013
I am happy to assist you in your home purchasing process. There is a large selection of homes to choose from in this area. The first place to start is with a loan officer. You need to speak with a loan office to find out what type of loan suits your needs and a price point that accommodates your income. This is usually a quick process. You will normally have an answer within 24 hours or less. I can provide with lender contact information if you would like. Please feel free to call, text, or email me at the number below.
Thank you,
Jennifer Divine, Realtor
859-582-7479
jenndivine@aol.com
0 votes Thank Flag Link Tue Feb 5, 2013
You probably want to start by hiring a buyer's agent. A buyer's agent works for you to help you find appropriate housing and helps you to negotiate the best terms possible. You do not actually pay a buyer's agent. They are paid by the seller of the property. The listing agent splits their fee with the buyer's agent. Especially if you are new to home buyer, find a buyer's agent first. You will also want to contact a couple of banks/ mortgage brokers- very important all on the same day so that you get fair comparisons. You want to compare rates and closing costs. They alos can help you decide what you can and want to borrow so yu know what price range to start your search. If you do not know any agents, the mortgage brokers/ bankers can probably recommend an agent or two.
0 votes Thank Flag Link Tue Feb 5, 2013
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