Theminister, Home Buyer in 11225

Looking for a home within 5 mos. in St. Albans/Cambria Heights Queens around 200k. I have great credit score of 800 and make 80,000 yearly.

Asked by Theminister, 11225 Sat Nov 6, 2010

I have solid 23 yr work history - Currently 9 yrs Dept. of Education as an educator & previously 14 yrs as a courthouse office worker. I don't have much for down payment yet and I have to leave the apt. where I live due to building issues (building not getting much needed repairs, pipes burst on me a few times, roof leaked on me 3 times thus far and damaged several of my items). It's time for me to stop renting and move on. I'm not in default on any loans and currently owe only 10,000 in a student loan. I don't have a car note, have a "0" balance on my credit cards, and have no other outstanding debt. I'm a 1st time home buyer and looking for a house for my primary residence. I'm looking for someone who is willing to work with me and help me find the house of my dreams.

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We can help you with your real estate purchase.
As a full service realty we can assist you.

1 vote Thank Flag Link Thu Dec 9, 2010
Good afternoon Theminister,

First steps:

Meet with a Local Mortgage Banker to get prequalified for mortgage financing. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for.

Get a referral to a good, local, real estate attorney. Call the attorney, retain the attorney so you have her information handy when you make an offer. Having that information at time of offer helps you demonstrate to the Seller how serious you are, and they will consider your offer with more interest.

Line up a Home Inspector. A good home inspector will scare the heck out of you: that's what you pay him for! But you'll concentrate on the fundamentals of the property: roof free of leaks, plumbing, heating and electrical up to code and in good working order. Again, when you make an offer and you have your Home Inspector ready to go, your offer will be considered with much more interest by a Seller because you truly have your "ducks in a row" and your preparation demonstrates your serious attitude about conducting the purchase transaction in a timely manner.

Find an experienced Local Realtor who works in your desired shopping area. A serious pro Realtor will refuse to show you homes until you are Prequalified for mortgage financing. Don't take offense! That Realtor doesn't want you to be disappointed and wants you to have a smooth experience as you shop for your new home.

Put together your Team of real estate professionals and shop 'til you drop!

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
1010 Northern Blvd. Suite 234
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services

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0 votes Thank Flag Link Wed Apr 24, 2013

I just read your post. When you have a moment feel free to contact me and I will answer and and all questons you may have. I can set you up on listing alerts in your property target area if that helps you.
Best Regards,

Susan A Chen- Licensed Real Estate Broker and CEO
S.A.C. Properties
Office: 800-648-2901
Cel: 718-468-6918
0 votes Thank Flag Link Tue Nov 9, 2010
Well, when are ready to move forward, please have a pre-qualification from the bank to check exactly how much you can afford. for 1st time buyer, some special program will well very be good for you. And check in a Realtor you trust and know your future residence area well. Let them know what you are looking for and let them work for you. Good Luck for your search
0 votes Thank Flag Link Sun Nov 7, 2010
It sounds has if you are ready,willing and able to start your sreach.
If you have any questions or need asst. please feel free to me. I will
professionally guide you through all the paperwork and negotiations
on your behalf (including meeting with agents, lawyers, banks,
inspectors and appraisers).
Fajardo Delacruz
Licensed Real Estate Agent
Century Homes Realty Group LLC
Direct Line: 347-932-0609
0 votes Thank Flag Link Sat Nov 6, 2010
You sound like an excellent candidate to find your first home. And, even though you won't be purchasing until sometime next year. It wouldn't hurt to talk to a loan officer and find out steps you can take to build your credit so you can take advantage of a competitive interest rate. A loan officer will also give you a good estimate of how much down payment you'll need when you're ready to start looking.

Best of luck to you and don't let anyone deter you from your goals!
Web Reference:
0 votes Thank Flag Link Sat Nov 6, 2010
Hello Theminister
As an agent and NYS Certified Residential Appraiser I will help you search for your first home and make sure that it is a good value. I have worked in southern Queens and Nassau Counties for over 25 years. In addition to finding you a home it is my job to make this as stress free as possible while providing excellent service and advice, including mortgage advice. My contact information is below. Please call as soon as it is convenient for you. We need to talk first so that we are both on the same page and you can get a realistic picture of the market today.
Allen Bauman
Century21 Yve R. E.
Licensed R. E. Agent
NYS Certified Residential Appraiser
0 votes Thank Flag Link Sat Nov 6, 2010
Before beginning your search for a property, if you haven't already done so, do visit with any qualified loan officer--after reviewing your overall finances, he/she can determine if you qualify for a mortgage, and advise on the loan product that best suits your needs--also ask your loan officer for a mortgage pre-qualification/approval letter, as it will come in very handy when ready to make any offers. To get an idea of available and closed properties in the areas of interest, also check then go from there.
0 votes Thank Flag Link Sat Nov 6, 2010
T, I would first locate a Realtor to guide you in your local market. They can help with lender pre-approval letters which can be obtained either from a Mortgage Broker or directly from a lender. Good luck.
0 votes Thank Flag Link Sat Nov 6, 2010
Hi there

As I can help you find a good house in this area. I have few realy good houses there.

If you do not own any house today you can get FHA loan which will give you the option for a low down payment as 3.5%.

Your credit and income as you said will be more then enough.

The only Thing is that houses in this areas starts from the low 300's and up. that is for a house in perfect condition fully renovated 3-4 bedrooms

Another good thing that I can help you with is getting a sellers concession which will let you put all of the closing cost into the mortgage instead of paying it cash as you said you don't have alot of it now.

Please contact me with any questions and to schedule a viewing of some houses.

Sam 347-510-1616
Web Reference:
0 votes Thank Flag Link Sat Nov 6, 2010
Hello, My name is John May and I am the Sales Mgr for Century 21 Amiable Realty Group in Queens Village. We have been in business for over 30 years in the Southern and Northern parts of Queens. We are located in Queens Village and have 2 oher offices . One in Ridgewood and one in Floral Park. We specialize in first time home buyers and can get you access to government grants as well as special mortgage programs geared to first time home buyers. We also have home buyers seminars for our community. This is to inform and enlighten our community about the process of buying a home in todays market. We work with many community organizations and banks and lenders and brokers to offer you their services while also giving you a wide range of choices in your mortgage search. The right choices and the right advice in todays market is crucial and we will provide you with one of our Licensed Sales Representatives to help you find your dream home and find the right financing to make your dreams come true. You can contact me via e mail or phone. My e mail address is and my phone numbers are (718)479-5600 or my cell (718)578-9200. I hope you will choose us to help you with your search..
0 votes Thank Flag Link Sat Nov 6, 2010
You are looking way too soon. The first step is to go to a bank in February to get pre-qualified. Once you are pre-qualified you will see how much you qualify for and how much cash you will need to close your loan. Your pre-qualification letter with the bank is only good for 45-60 days. You will need cash for an Earnest Money Down and then cash for closing costs. Your agent can ask for the closing costs, but you don't always get them. Start saving and save, save, save!!! In the interim, drive the area. See neighborhoods and streets you like and keep a notebook of those areas. Look on Trulia to find the values of homes in those areas. If you find that what you like is running too high for you, then continue to look at other neighborhoods. Lastly I would say to educate yourself by reading books or the Q&A section on Trulia or other home websites. You can learn a lot in a short period of time by reading others' questions and answers. When you get to January or February choose a realtor. Interview several realtors to see which one you like the best and feel is the easiest, most experienced, and most agressive person to help you complete your transaction. No matter how much you know, it is good to go with a professional who knows the market in your area.
0 votes Thank Flag Link Sat Nov 6, 2010
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