It depends on your lifestyle. We have lived in the downtown area for years and loved it--it's an easy walk to stores, restaurants, library, WKU campus. Historic homes in various shapes and sizes are sometimes available to buy; some are split into apartments; recently some nice apartments have been constructed either new or in rehabbed older buildings. If country living is more your style, there are several nice areas on the outskirts, but if you have to commute into town for work during typical rush hours I'd be wary of anything that requires traveling on Smallhouse or Three Springs roads.... more
NACA will be happy to work with you. NACA does not use your credit score in any manner, though we do work with you on resolving any charge-offs or collections that have happened in the last two years, and your bill payment history must be on time for the past 12 months.
The NACA program offers no down payment, no closing costs, a fixed below market interest rate, and the ability to buy down the interest rate even further, potentially to near zero. The amount you will be approved for depends upon your income, expenses and possibly on regional loan limits.
Just go to the NACA website at http://www.naca.com and sign up for a free Home Buyer's Workshop.... more
I would think that most buyers look for a home in good condition, in a good location and prefer a layout with a gourmet kitchen and family room close together as this has become the heart of the house. Specialized Bathrooms are also high on the list but a well staged, uncluttered home in good condition is a major part of what buyers are looking for today.... more
Hello, my advice to you would be to interview a couple agents. Ask them questions to find out how knowledgeable they are in the area you are looking in and if they can give you direction on finding a local lender that would be qualified to help you.... more
Yes. You do not need a "job" to get a mortgage loan. What you need is routine income whose source and payment will be sustained years into the future. Examples of "non-employment" income include: payments from a trust fund, rental income, retirement income, lawsuits, alimony, disability, etc.... more
I recommend any mortgage questions be directed to a licensed, competent loan officer / mortgage broker in your state. They will be able to direct you. While real estate brokers may know the answer in general, they are not necessarily "experts" in all things mortgage related.
Ron Krauch - SRS
Emerald Estates Realty, Inc.
Palos Heights, IL 60463... more
they will deny you based on other factors....I have huge money to put down and was denied. I am 66, retired, $5k in credit card debt and was still turned down. Interview 2 o3 mortgage brokers, they can help you the most if you have a less than normal situation...and that credit score is so low!!... more
Maybe not in this day and age of a sellers market. I think the list to sale ratio has gone up so much across the country that if a seller has a nice home that is priced according to the market they do not have to take less just because it's cash.
Good question though.
I think the best way for you to get the most for your money is to come in right when a property comes on the market, make a strong offer with a good amount of earnest money.
All the best to you... more