they both have jobs but some bud credit history what could they do to by a home??
Stacey:
Your daughter should meet with a lender first to determine what needs to be done to qualify for a mortage whether it is now or in the future. If she is unable to be approved for a loan now, she can do a lease option on a home while working on her credit. A portion of the rent can be credited toward the purchase price or downpayment she will need.
Stacy, Tell them to wait
Good luck, Dunes
Stacey,
Their situation may not be as bad as they thing it is. Our recommendation is for them to meet with several loan agents to get a better understanding of their financial situation. This may clarify their possible options as well.
You can purchase a home have them pay you rent, however keep in mind easy to "not pay a family member" .
If only a relationship do they have future plans to get married? If the relationship does not work out who is going who is staying in property, if you owned the property your daughter is a partnership with you on an investment.
If credit bad need have that cleared prior to moving forward.
Their first step would be to get pre-qualified by a REPUTABLE and i emphasize REPUTABLE mortgage lender. The majority of contracts to purchase must be accompanied by a pre-qualification letter. Also some sellers will not even allow their homes to be shown to buyers who are not pre-qualified. Also,this will allow them to find out how much they can actually spend. Step 2 is to contact a local realtor who can assist them through this process. As they are unmarried,thus unrelated under law,they also need to plan for the eventuality that they may not stay together,and make some provision for this,so that the property can be disposed of if necessary.
Whatever yo do, don't respond to this roboscammer...
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