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just maybe, i could purchase the home I sold before?

Maybe I could purchase the home i sold before on brownlee lane (sun valley nevada) i know the owners and I
think they would like to get the house (manufactured) off their hands now or soon, what the next step? Remember
my credit needs repair or whatever after having to sell thus home through a rather nasty divorce and of course, I
want to use my VA program so as to lower my down payment and yes, get the lower of monthly payments. but now I am single....do I have a chance?
Fri Jun 27 2008, 14:43 - Sun Valley - Home Buying - 3 answers
 
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John R Bra...
Home Buyer
in overseas
John R Bra..., Home Buyer in overseas in overseas
Answers (3)
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Ken Herrera was FIRST TO ANSWER
Hi John,
The previous advice is your first step, talk with a loan officer and get pre-approved and find out what needs to be done to repair your credit.

You mentioned that you want to use your VA loan to purchase and that the house is a manufactured home. I checked the MLS for homes sold on Brownlee (not sure which one was yours) but most are older manufactureds. VA will not approve a loan on a manufactured home older than 1979, so that could be a problem using VA. Remember ... not only you have to qualify for a VA loan, but also the property.
I would be glad to give you some names of loan officers in the area if would like.

I hope this helps and thank you for serving our country!

Fred

Sat Jun 28 2008, 09:02
Web Reference: http://www.renosparkshouses.com
 
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If you qualify for the loan and the owners accept your offer to buy, then yes, you have a good chance. You need to be "preapproved" for the loan first, so find a seasoned loan officer who can guide you to the type of loan that's best for your circumstances, can tell you what's required in the way of down payment, give you the amount of your monthly payments, etc. Only then can you proceed with any offer. And maybe you just have to use a short period to repair your credit. The loan officer can tell you what you need to do. Good luck! California Real Estate Broker

Fri Jun 27 2008, 16:40
 
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FIRST ANSWER
Hello John,

Your first step is to try and set up a consultation with a mortgage professional. They will be able to explain exactly what you need to do in order to qualify for your home. The fact that you are single may only hinder you as far as your purchasing power, the more income the better in the eyes of the bank. Once you have met with a Lender, you will have the access to the resources you will need.

Good Luck,

Fri Jun 27 2008, 15:09
Web Reference: http://www.c21infinity.com
 
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