Home Buying in 14150>Question Details

sjrcjr, Home Buyer in 14150

I have been rebuilding my credit recently witha plan to buy a house ina year BUT my friend just got a new

Asked by sjrcjr, 14150 Tue Jun 10, 2008

home and has offered me his cheap but i cant get a martgage yet are there options out there besides him holding the mortgages (he needs the cash for the new house)

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Trying talking to a mortgage Broker, Bank or goverment loan programs, however pull your own credit report before visiting to show them. Otherwise everytime they pull your credit report, your credit score and your worthiness will decrease. Carry your own report to see if you can qualify first.
1 vote Thank Flag Link Tue Jun 10, 2008
There are many first time home buyer's programs available that will assist in down payment and closing costs. The best part is your credit doesn't have to be perfect! Sometimes a little extra research into local programs can be beneficial to those who have been turned down by traditional financing.
1 vote Thank Flag Link Tue Jun 10, 2008
Hmm, it's just like opportunity to knock while you are in the shower. You may need to settle for what you can get, or let it go.

For now, take a look at the following page to see whether you can find something that might work for you:

http://www.hud.gov/buying/localbuying.cfm
1 vote Thank Flag Link Tue Jun 10, 2008
contact me off line at Gail@GailGladstone.com and I will give you the contact info for a mortgage broker who goes out of her way to assist in such circumstances.
Web Reference: http://GailGladstone.com
0 votes Thank Flag Link Tue Jun 10, 2008
Depending on what part of the country you are in, you may qualify for an FHA Loan, FHA Loans can only be done by Loan Consultant Companies (Brokers) who have been certified by FHA. There is also programs out there where the Seller must credit 3% which may be applied to your down payment or closing cost. So in short, there are options, a good Loan Consultant will be able to assit you.
0 votes Thank Flag Link Tue Jun 10, 2008
NEED THE EXPERTISE OF A PROFESSIONAL MORTGAGE BROKER. THEY HAVE MANY VARIED TYPES OF PROGRAMS. HAVE YOU DISCUSSED LEASE PURCHASE AT ALL?
0 votes Thank Flag Link Tue Jun 10, 2008
yes i have, about 5 of them. i am 30 points out from a mortgage, but my score has gone up 50 points in about 6 months so i say less then 6 maybe 12 months i will have a score worthy of a tradtional mortgage.
0 votes Thank Flag Link Tue Jun 10, 2008
Have you actually sat down with a mortgage loan officer? If not, do so. Try your bank first. Then try a mortgage broker.
0 votes Thank Flag Link Tue Jun 10, 2008
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