You need two top pros, a fantastic agent who will represent your needs, that you'll listen to and trust and a great lender who will work hand in hand with you and your agent to make sure you understand everything and are ready.
Advice will come to you from numerous sources, most of it will be well meaning. You need to be careful who you listen to. Todays market is different than last years, 5 years ago and 20 years ago. Friends and family will want to "protect" you, but if they are not also actively in this market, their advice may be out of date.
100% financing is very limited, VA for Veterans and active duty military and USDA for rural properties when you fit all the additional criteria. There may be other state or local programs too.
Whether that's what is best for you is not for me to say. The major benefit is getting a home without taking the time to save up a down payment. The risk is higher rates, mortgage insurance, no equity just to name some.
Don't settle for a friendly face with your agent or lender. You deserve a top pro with the patience to work with you that you can truly put your trust in. Most agents are "nice" not all are highly competent or necessarily best for you.... more
There is 2 acres for sale at 351 Shadow Lane on Lake Lyman. Great street and location to build a large 3 bedroom home on with the lake behind your home. A steal at $80,000 for 2 acres to build on with homes ranging from $300,000. to a million. Last piece of property left on the best street around the lake. Build a home and save from paying anyone else $100,000. or more for 1 acre around the lake.........Steal it before the price goes up......Check it out before its gone and sold for a higher price ! email@example.com... more
Unfortunately, your judgement follows you where ever you go. Just about everything you do in life, such as apply for certain jobs, get auto insurance, rent an apartment or house, credit reports are wanted. Don't just let anyone fill out an application or ask you to fill one out where ever you go as each time that's done, it is a ding after so many checks that it takes your credit rating down more. It's always best to get all 3 of your credit reports for free every year from Experian, Trans Union, and Equifax. It costs a little extra for your FICO Score, maybe a total of $24-30 that's worth having them, but you need it to see where you are at. They list everything you have ever paid off or are paying on or stopped paying.
I'm not sure if you are referring to a house as the judgement, but it it's debts such as credit cards and haven't paid anything on them nor promised to pay anything on them, after 7 years they drop off your credit report. These are debts that are called NOT secured. A secured debt, such as having work on your home where a lien was placed on the home for a job not paid off, then that's a problem. Sometimes it's best to just go bankrupt when a house is involved. Anyone else on that judgement with you is responsible for that debt also. Otherwise, maybe a spouse or family member of yours living with you can use their credit instead.
Do what you can to be on time and pay more than the minimum on any other credit cards and keep them under 25%. If you have a credit card with a credit limit of $4000 only charge up to $1000 only buying necessary items as these companies know what you are buying. Keep as far away from the maximum as you can. Many credit card companies check your credit every month to show if you paid on time and the correct amount. You learn so much about your credit from these reports!
Think about if you can purchase a house as a rent to own with so much going to the down payment for 1-3 years. If you decide to not buy it, then you walk away. If you want it, then you have a down payment. Someone may want to sell their home but can't seem to and could rent it if you approach them about it sitting empty and not selling when they could be collecting a rent check. BUT be careful that they are NOT under water in their mortgage (OWE MORE THAN THE HOUSE IS WORTH). Make sure they do NOT try to sell it as a short sale or to someone while you are living there or you may have no where to go.
In a small town people know one another and may be more welcoming to having you as a renter first to see who you are and may owner finance a home with you paying the mortgage to them monthly. Just be an honest tenant or home buyer by changing whatever caused your problem. You can't help it if you lost your job and home or you had major medical problems that drained your finances or took you from the job market or had a divorce. Just work on rebuilding your credit and reputation with credit card reporting agencies. Time goes by so fast that you could be in better shape than before.
Our world is based on a global system of credit and scores as to who you are and your reputation as a responsible payer. Sometimes it just doesn't seem fair as bad things do happen to good people. Any problems you have experienced by job loss or sickness can be explained on that credit report by your own personal truthful statement.
Also check to see that anything on your 3 credit reports belong to you and not someone else. They do make mistakes. I hope you are able to fulfill your dreams of home ownership as soon as you can. It's not the worst in the world if you have to rent an apartment that preferably doesn't do a credit check. Very small places may not do that as it costs them for each tenant. Then get your credit straightened out to have everything on your side again.... more