Home Buying in 77018>Question Details

Aprilmrdz, Other/Just Looking in 77018

first time homebuyer who has been turned down many times

Asked by Aprilmrdz, 77018 Mon May 21, 2012

can anyone help

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7
The guidelines protect you more than they do the lender, do not let a lender approve your loan application unless they can prove to you that you are overqualified. How much over? Depends on how safe you want to be, if you were betting your life how much would you want the odds stacked in your favor? Getting a mortgage if you just barely meet the minimum thresholds is like betting your financial life. The lenders that have turned you down have protected you, send them a thank you note and ask the one that was most helpful for guidance, good luck,

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
0 votes Thank Flag Link Tue May 22, 2012
I have a team that assists future homeowners achieve their ownership goals. Please tell us how we can help you by emailing us at lrh.a.realty@gmail.com
0 votes Thank Flag Link Tue May 22, 2012
If you have been turned down "many times" it is best to address the issues on reason(s) why you were turned down then reapply for a loan .

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
Multimillion Dollar Sales Producer
972-699-9111
http://www.lynn911.com

Follow me on Facebook
http://www.facebook.com/lynn911dallas
0 votes Thank Flag Link Mon May 21, 2012
April,

We assume you mean turned down by a lender to get pre-approved for a loan. You might also be speaking of making offers to sellers and not getting a deal worked out.

We would need a bit more information. We get many questions on this forum in regards to financing. It is much tougher now than it was in 2007. The easy flow of money kinda got us in the rough economic environment we are in now and those days are over.

You likely know why you have been turned down at this point. There is no easy money. Unless your willing to pay much higher interest rates and terms that will be very tough on you, I would advise you to be patient and get your credit and other issues worked out. The sooner you can do this, the sooner you can get a great mortgate with as little as 3.5% down (an FHA loan) and low interest rates. Check my web site as I have great lenders that will be patient with you and help you get your finances in order. If you would like to speak in private, please give me a call.

Mark McNitt
m 832-567-4357
Bernstein Realty
0 votes Thank Flag Link Mon May 21, 2012
I agree with Al ! Find you a Buyer's Agent you feel comfortable with and they will have lenders that can give you advice as to what you need to get your loan approved. Quite a few of my clients that started out as renters with me come back in a year or two ready to buy. Let me know if I can help. Feel free to check out my website and send me a messege.
0 votes Thank Flag Link Mon May 21, 2012
Please e-mail me (al@algeffon.com) with some details ... there are many reasons why one would not be approved, but personal situations shouldn't be discussed in a public forum such as this. If I can get a better picture of your situation, I may be able to help ... no guarantees, of course, but I've worked with many first-time buyers under less-than-traditional circumstances. If you prefer to speak by phone, you can reach me at (713) 213-6350. I look forward to hearing from you. I wish you well ...

Al Geffon
0 votes Thank Flag Link Mon May 21, 2012
If they have 10% down of the sale price they are seeking they can buy a home contract for deed.

http://www.mnhomescontractfordeed.com/hennepin-county
0 votes Thank Flag Link Mon May 21, 2012
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