Home Buying in Dallas>Question Details

Claudia, Other/Just Looking in 75217

i really like this house the price is 52500 but i dnt have it in cash can i finance it but how would i do it if i dnt have all that money?

Asked by Claudia, 75217 Sun Nov 28, 2010

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7
Assuming the target property isn't a (pre-)foreclosure, make an offer with seller financing.
1 vote Thank Flag Link Sun Nov 28, 2010
First thing we need to do is get you with a lender. Let's get you prequalified and then we can see what money you will need and how much you can spend.

Feel free to contact me for referrals to great lenders.

Bruce Lynn
Keller Williams Realty
Web Reference: http://www.teamlynn.com
1 vote Thank Flag Link Sun Nov 28, 2010
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
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You need to talk with a mortgage lender to see what and if you qualify for a loan. They make a decision on your job, loans/debts, income, your credit worthiness. Rarely people pay all of it in cash besides a down payment but usually take care of the rest with a loan or mortgage.
1 vote Thank Flag Link Sun Nov 28, 2010
If you haven't done so yet, do visit with any qualified loan officer(s) first--see if you qualify, how much, the type of loan, etc., after reviewing your file, your loan officer can make a determination as to qualification--since you mentioned that you don't have all that money--do keep in mind that what lenders don’t know are borrowers’ non-debt spending habits, present and anticipated. You, the borrower, need to consider the economic factors of your lifestyle that would impact on your individual comfort level of affordability. A mortgage outside your budgetary constraints can dramatically alter your overall living conditions. So, be sure to factor micro and macro economic concerns into your mortgage amount deliberations.
0 votes Thank Flag Link Mon Nov 29, 2010
Hi Claudia,
A mortgage lender can let you know, based on your credit/income (and some other factors) what you may be able to finance. It's very simple to get started and fill out a loan application. If you need any lender recommendations, let us know.
Best regards,
Juliette
0 votes Thank Flag Link Mon Nov 29, 2010
You need to contact a mortgage broker can submit a loan application.

Your credit scores, debt/income ratio, 2 years employment all taken inconsideration

Direct Link for 1st time home buyers questions:
http://www.lynn911.com/Web/AR287090/CustomContent/index/5046766

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Mon Nov 29, 2010
Become prequalified through my lender!
Web Reference: http://Justinhenryhomes.com
0 votes Thank Flag Link Sun Nov 28, 2010
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