HI. Glad you found my website useful. I would say it would behoove your friends to talk with a loan officer to see if they would qualify for a loan and how much of a loan. The potential of having a roommate paying toward the mortgage would have to be addressed by them. I don't know that they would be able to use that to get them qualified. The loan process has changed so much, best to just have a chat over the phone to be prequalified first. There would be no obligation and it would just take a few minutes. Do you have a lender? I have a list of suggested service people on my website too. Certainly makes sense to buy something now!! Homeownership is still the American Dream :)

My special thanks to Jennifer for answering. I was searching cheap listings at Realtor.com and one of YOUR listings caught my eye (Bird St). So I have been searching YOUR website.

So let me ask you another question. This house is for a friend. He is for the most part unemployed for the past 2 yrs. He would be buying it with his girlfriend who works full time. With 5% down and NO credit rating, first time home buyers, is there any hope for them?

He's been paying about $300/mo for storage units including his constant late fees. She wants to marry him because he has a college degree and "potential".

What if they were to go with something like 226 Villa and had another roommate sign a lease for $300/mo?
Thanks,
Ruth

Investopedia explains

"BPO - Broker Price Opinion - is the estimated value of a property as determined by a real estate broker or other qualified individual or firm. A broker price opinion is based on the characteristics of the property being considered.

Some of the factors that a broker will consider when pricing a property include: the value of similar surrounding properties, sales trends in the neighborhood, an estimate of any of the costs associated with getting the property ready for sale and/or the cost of any needed repairs. It is important to note that a BPO is not the same as an appraisal".

Ruthless, a short sale transaction is a long arduous process. As quoted above, BPO is a broker's opinion of a price based on similar properties in the neighborhood and it could be a drive by rather than a more rigorous inspection by a certified appraiser. That's just the start of the process.

Borker Price Opinion is what it stands for. The Realtor is having to fill out some paperwork that relates to their opinion of the value of the property. Any other questions http://www.YourFoxValleyHome.com Good Luck