FYI...the seller pays commission in the state of TX and doesn't cost you anything for buyer-representation. ESPECIALLY if you are buying "from a friend" you will want to make sure you have someone in your corner to protect your rights and negotiate for you.
I hope you have since purchased the home that you want and it was a good experience for you. If anyone else finds themselves in this situation PLEASE contact me! :) I would love to help guide you through the process (it won't cost you a dime ((for representation)). Regardless of whether you are buying from a friend or a stranger, this is the biggest investment most people make in a lifetime. Better safe than sorry.
-Amy S. Arey, Realtor
Halo Group Realty, LLC
We specialize in raising FICO scores dramatically, in weeks, not months or years.
As a matter of fact with one of our most recent clients we raised his score from 552 up to 729 in 3 weeks.
Hope This Helps
IZM Credit Services
800 N Rainbow Blvd
Las vegas, NV 89107
(702) 758 - 3799
The NACA program offers no down payment, no closing costs, a fixed below market interest rate, and the ability to buy down the interest rate even further, potentially to near zero.
Just go to the NACA website at http://www.naca.com and sign up for a free Home Buyer's Workshop.
Newbridge Home Loans
713-777-9996 Ext 103
You'll have some challenges with the current situation in obtaining a bank loan. I would need to know some details but I can say that your credit scores are not a concern to me, your behavior in the last 24 months is. If your boyfriend has no credit but has alternative lines such as electric, water, gas, cable, internet, etc. with a perfect pay history that would be sufficient. I would need to know about the history on your rental also.
It appears that you have saved some money which is great. With my program you won't have to use very much of it since I don't require a down paymnent or closing costs, you only have to fund your escrows. You may want to check out http://www.NACA.com and register to attend a workshop to get some details on us. Feel free to contact me with questions.
Mortgage Counselor-NMLS 280951
The main thing is you need to get in touch with a lender and you will need to get your score up to 550 in order to get a decent rate. The fact that you have 30% down is going to be very helpful. Lender will most likely ask you to 1) pay off some debts if you have high debt and income ratio 2) open new credit card and have a on going balance which will bring your score up
Another thing as a Realtor, please make sure your purchase price will appraise at your loan amount. Often time when you cut out professional in the transaction, you will save money cutting out the middle person. But buying a home is probably going to be your BIGGEST investment in your life. You have to make sure everything is done RIGHT and you dont save $1000 and lost $10k in the process.
I would also be more than happy to share my lender info with you if you are interested in her help getting your score up.
You can search homes in the 75206 zip code here http://www.findyourtexashome.com/lakewood/
JP and Associate
Hard money lenders will offer a range of requirements on the loan-to-value percentage, type of real estate and minimum loan size for a hard money loan.
Money loans are more expensive than traditional loans because they are not based upon traditional credit guidelines which protect investors and banks from high default rates. As hard money lenders may not require the income verification that typical lenders require, they experience higher default rates (and, thus, charge a higher rate of interest). Individuals and companies may opt to take a hard money loan when they cannot obtain typical mortgage financing because they do not have acceptable credit or other documentation typically required by a conforming loan. Please screen your lenders first before giving them any information.