It seems that your scores in your range should work. Lenders like myself can go as low as 580 when it comes to credit scores. Of course, your other finances will need to be in place as well including your income, debt, assets, employment, expenses, etc. The best thing for you to do is to speak with a knowledgeable lender like myself to see if you can get started on financing a new home. If you need additional assistance, feel free to reach out. Good luck!
Sr. Mortgage Banker
NMLS # 659743
In traditional sales and for certain types of financing, the seller provides the buyer a termite inspection, survey, etc. With bank-owned properties, they don't provide any of the traditional items like surveys, etc. Doesn't mean anything, but you should inspect generally first and see if there are any reasons to inspect for other things like lead based paint, radon, termite, mold, etc. Those are specialty inspections. Your lender may require a termite inspection either way.... more
Lyons, IL is an excellent choice for the budget-minded homebuyer. Lyons is a near-west Chicago suburb on the north side of the I-55 Stevenson Expressway between Harlem Avenue and First Avenue. The famous Joliet Road (formerly Route 66) jogs right through the southern part of the village. Surrounded by Brookfield (famous Brookfield Zoo) and Riverside (historical village developed by Olmsted & Vaux- the same duo who developed Central Park in New York) and Berwyn (remember Svengoolie- "BER-WYN"). Lyons is the epicenter of the colonial fur trade business; the very spot where the Hoffman Tower on the Desplaines River offers a nice "River Walk" view for pedestrians strolling into Riverside. Close to bike trails and forest preserves, great schools and convenient transportation and surprisingly affordable, too!... more
this is a declining market. Homes in SC are 40% overpriced. Most were sold with jumbo loans, which cannot be refinanced. Several foreclosures have been flipped, for hundreds of thousands less than original prices. They are large homes, so you'll pay some eye popping property taxes, and Lyons is expected to be broke in 2011 because they wont have revenue from new construction. If you love a small HOA of 72 homes within a small town of less than 2000 people, you might consider this place. You need to be politically savvy, and kow tow to the town administrator, who lives in and runs the neighborhood. If you understand small towns, you can do well here. If you don't you'll find yourself in hell.... more