Home Buying in Exeter>Question Details

Ashernandez6…, Home Buyer in

im getting a settlement in october would it best to wait to try to get financed for a house when i have a lot more money to put down??

Asked by Ashernandez618, Thu Apr 12, 2012

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I have to agree with Benny. Don't count on your settlement. You'll be living in your home and having daily expenses. I'm not a financial adviser and I don't know your financial situation, but in my opinion, it would be better to get pre-approved now with your normal income. If you want to pay some additional principal with your settlement money, all well and good, but see what you can afford without that.

I'd be more than happy to help you find something in your current price range and I can provide you with the names of some local lenders. I also have some buyer reports on my website that you can request that might help in some of your decision making process.
1 vote Thank Flag Link Thu Apr 12, 2012
thank you i appericate it. there is actuaqlly one house im in loved with on this website but i have a poor credit score thats why i was trying to wait for the settlement so that i have a little bit of money to start off with.
Flag Sun Jul 1, 2012
NO. From my move than three decades of helping people and myself it is a mistake to take a large windfall and put it toward paying down dept or any other normal cost of living. Invest that money and use your income to live on. If you can't afford a home without a windfall then you need to get your finances on a budget you can live with, and follwo it for months then take out a mortgage. Not following this is how people get in over thier head.
0 votes Thank Flag Link Thu Apr 12, 2012
alright. thank you so much
Flag Thu Apr 12, 2012
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