Lazaro Maldo…, Renter in Central City, New Or...

i hate throwing my money away paying rent any advice on buying my first cheap home

Asked by Lazaro Maldonado Trejo, Central City, New Orleans, LA Sun Jan 16, 2011

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You are exactly correct about now is the time to buy a home instead of renting. I think you have the picture that you need to contact a lender to get qualified for the loan.. right? The number one thing you should do to see what you can afford to purchase. Go for it and get it done! :)
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0 votes Thank Flag Link Sun Jan 16, 2011
The best place for you to begin is to contact a local lender, they can pre qualify you to determine credit worthiness as well as what your buying power is. If they find that you have any credit issues they can also offer counciling to place you on the path to inproving your credit scores.
0 votes Thank Flag Link Sun Jan 16, 2011
First things should meet with a local lender and determine your budget for a home, including how much you will need for a down payment, closing costs, insurance and taxes. Depending on where you decide to purchase, there may be parish or state bond money available to assist with your down payment.

Once you know what your price range is and what you want/need in a home, I recommend that you work with a buyer's agent who will work exclusively for you - not for the sellers of any homes you might see. A good buyer's agent will be able to assist you in finding just the right house that fits your needs and price range.
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0 votes Thank Flag Link Sun Jan 16, 2011
The first step is to see where you are financially, and the best way to do that is talk to a lender. I can give you the number of a local lender (very important here in New Orleans) who is excellent at working with first time home buyers. If together you find that you're not quite ready, he is also there to guide you toward getting ready for it in the future. Call, email, or text me anytime; I'd love to help you out! Troy Jowers, RE/MAX Real Estate Partners, 504-655-5394,
0 votes Thank Flag Link Sun Jan 16, 2011
You need be able to qualify for a mortgage which governs on how a Realtor can assist you with your search.

Tips on home purchasing :

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
0 votes Thank Flag Link Sun Jan 16, 2011
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