Home Buying in Livonia>Question Details

Adrienne, Home Buyer in Plymouth, MI

I am on Disability. It makes more sense to invest in a home instead of paying lot rent on my mobile home. Is there anything you can suggest?

Asked by Adrienne, Plymouth, MI Thu Feb 21, 2013

First time home buyer

This question was asked from this property: http://www.trulia.com/property/3088488631-19559-Brentwood-St…

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The first step you need to take is to find a good lender that can use your disability income to qualify you for a mortgage. Not all lender will be able to do this. I can send you a list of great lenders that I use all the time to get people qualified for mortgages that don't fit into the standard W-2 employed box.

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1 vote Thank Flag Link Thu Feb 21, 2013
Thank you for your reply. I should have clarified, I do own the mobile home that I am in, though it doesn't account for much resale, if you know what I mean. I am responsible for all maintenance and upkeep, all utilities, also the $470 a month lot rent. I have been doing this for over five years knowing that I could afford to purchase a home in this day's market. The fact that I pay that on a consistent basis in not arguable, but my credit took a hit a few years ago and it has been a slow go getting back. I know this may take a couple of years to straighten out and don't want anyone wasting their time. On the other hand, I feel like I am just wasting money in this tiny trailer and that just doesn't make sense to me. Thanks for your help, it was appreciated!
Flag Wed Feb 27, 2013
Adrienne, now is a great time to buy, especially if you're a first time buyer. Michigan is giving up to $3,000 in grants to first time home buyers. Or $5,000 if you're a veteran. This can help cover your closing costs or go towards your down payment. Getting into a home is definately affordable, and monthly payments are typically less than rent for an equivalent property, but keep in mind the maintenance and repairs you will be responsible for as a homeowner. Your first step is to find a mortgage rep you trust, find out how much you qualify for, and then get in touch with an agent to help you find a great home you can love and afford!
Web Reference: http://www.KWryan.com
1 vote Thank Flag Link Thu Feb 21, 2013

There are many advantages to owning opposed to paying rent. If you get a chance, please give me a call so we can discuss further.

Thank you,
Gerry Vento
Remerica Hometown III
(313) 215-3394/cell
0 votes Thank Flag Link Thu Feb 21, 2013
Home ownership may be a great option for you. The home on Brentwood is still on the market. If you would like more information on this home feel free to contact me. If you qualify you could get into this home for little money down and payments on a home in this price range will be very reasonable.

Ann Rudd
Remerica Integrity II
Northville MI
0 votes Thank Flag Link Thu Feb 21, 2013
Consumers think that owning a home is the best way to go. In 2012 as mortgage reports show interest rate have fallen to the lowest levels in 40 years. Shop around for a mortgage broker that can explore your financial options and advice properly.

Best of Luck,

Maria Cipollone

Century 21 Tenace
0 votes Thank Flag Link Thu Feb 21, 2013
Hi Adriene,

If you are a member of a credit union, check with them first. Then talk to local loan officers to discuss your options.

Best of Luck
0 votes Thank Flag Link Thu Feb 21, 2013
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