Home Buying in North Vernon>Question Details

Katiestruben…, Home Buyer in North Vernon, IN

We are a young couple, 18 and 20 years old and are looking into buying a home. Any advice?

Asked by Katiestruben129, North Vernon, IN Fri Sep 16, 2011

We have no credit and are just looking for a starter home. We have a one month old baby and are looking for something to get us through college and into our dream jobs and that we could fix up a little to get more out of it when we sell in around 10 years.

Help the community by answering this question:


First thing I tell all First Time Home Buyers, go see a local lender. Sit down and meet with them, there is no obligation nor cost. See what the rates are, what your total mortgage would be, how much you qualify for, type of loan(s) that is best for you, how much you need to put down. A good lender will not only show you where you two are at now, but what (if anything) you need to work on.

Once that is complete, look for a local Realtor on Trulia.com or Zillow.com, I would suggest find one that says they are Buyers Agent, works with 1st Time Home Buyers, and has plenty of reviews, so you can see what kind of agent you will be working with.

Best of luck. Buying a home should be an exciting and educational experience.

0 votes Thank Flag Link Thu May 24, 2012
I agree with Scott. The first step will be to meet with a mortgage advisor who can help you determine what, if anything, you can afford given your lack of credit history. There are alternative credit options out there for qualified buyers. They can also help you make the right steps in the near future so that you will be eligible for a loan.

Good luck!
0 votes Thank Flag Link Fri Sep 16, 2011
Your frst step should be to meet with a local and trusted loan officer, the loan ifficer can prequailify you at no cost, you should get 2 years tax returns, 3 mo bank statements, last 2 pay styubs and list of incime and expenses... if you do not quailfy now, they can tell you what you need to do....the other tip is to stay away from internet lenders....
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Fri Sep 16, 2011
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer