my daughter & her boyfriend have two children and are renting at this time, they would like to buy a home,

Stacey
Home Buyer
Athens, OH

they both have jobs but some bud credit history what could they do to by a home??

Answers (6)
Brittany Simone...
Agent
Columbus, OH

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.

Thu Jan 8 2009, 08:05
Dunes
Both Buyer and Seller
Benton County, OR

Stacy, Tell them to wait

Good luck, Dunes

Wed Jan 7 2009, 10:19
Bill Eckler-Flo...
Agent
Venice, FL

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.

Wed Jan 7 2009, 10:07
Lynn911.com Dal...
Agent
Dallas, TX

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.

Web Reference: http://www.lynn911.com
Tue Jan 6 2009, 19:14
Dana Schuster
Agent
70461

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.

Tue Jan 6 2009, 12:34
Dunes
Both Buyer and Seller
Benton County, OR
BEST ANSWER

Whatever yo do, don't respond to this roboscammer...

Tue Jan 6 2009, 12:19

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