$10,000 is not very much if you need to use it for the down payment and the closing costs, but with the right loan and (because it is a buyer's market) the seller contributing the maximum amount allowed (vary with different type of loan) toward your settlement expenses, you more unlikely can do it. A portion your money can be used for your "reserve". You need to find a loan officer with a reputable Mortgage Company (do the face to face instead of the on line deal), get your pre approval letter and start looking at properties.
I did a quick search, and this link is just FYI, I hope it gives you an idea of what you can get.
Good luck to you.... more
Not normally, no. Generally the mortgage company is going to want the name of the person borrowing the money to be on the title to the house. It's really the only way they can hold that person responsible if the mortgage does not get paid.... more
I have been following this home since May this year and there are no photos of the interior. Does that not tell you something? What are they trying to hide? Homes in this neighborhood are listed for much more. A local property management company showed me a rental home a few blocks from here on Merlot and it was probably in much better condition than this home. Just saying.... more
Yes there is a Wells Fargo bank here, Merced is about 45 minutes away and has a mall as well as lots of shopping as does Turlock and Medesto. Also about 45-60 minutes away. The is a community hospital in Los Banos.... more
The FHA requires 3.5% down payment to purchase a home. So, $15,000 would be sufficient, however, you still have to qualify for the mortgage. You would be well advised to talk to a local mortgage lender, a smaller institution that specializes in writing mortgages. They are going to look at your income, the amount of debt you currently carry, your work history and, yes, your credit history. Once that is done, they will be able to tell you exactly what you qualify for as far as a mortgage. And, even if you don't qualify for a mortgage today, they will be able to tell you exactly what steps you need to take, what improvements you need to make in your situation, in order to get one and even how long that process should take if you follow their advice.... more
The other offer fell through. The listing agent knew that you were interested and when the other party backed out (or couldn't get financing, or whatever the problem was), the listing agent called you to find out if you were still interested.
Hope that helps.... more
Hello. I would be more than happy to assist to you. Please feel free to contact me via email at firstname.lastname@example.org or via cell at 209-675-6104. I have been a Realtor in Los Banos for over 7 years.
look forward to helping you.
Century 21 M&M... more
Sorry to hear about your circumstances.
As you've described the situation it is very unlikely you would be approved for a home loan at this time. Lenders view a recent judgment as a financial obligation you had and decided not to honor. In that view, why would another lender now want to extend you credit?
Please understand I'm writing from the viewpoint of a lender to answer your question. You may have a very valid reason why the judgment occurred (uninsured medical situation, loss of employment, etc.). Lenders will now want to see at least 12 to 24 months of perfect credit to verify you are past your financial difficulties.... more
Confer your questions to Police who are the experts on crime
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
Your first step is to find a good buyer broker who can assist you and guide you through the buying process. When buying for cash you have more power on getting a better price in most situations. You simply make an offer as in any transaction and at closing you bring in acertified or cashiers check as payment.... more