Hi Sheila!

You should first check your credit. You can get a non-binding good faith estimate from a local Lender. Do you know your credit score? Norm FHA is requiring a 620 minimum FICO.

I have a good Lender contact in Killeen and she is great to work with. If you would like her info, please let me know.

Now is a great time to buy, as you may know. There is the First-Time Buyer tax credit, low interest rates, abundant inventory, and eager Sellers.

You could also rent for awhile, work on your credit, and re-establish yourself in the process. I also have rental property in Temple and perhaps could work with you to get you into a rental, while working on your credit, to eventually purchase your own home.

Please let me know if I can assist you.

Regards,

Zina Rodenbeck
RE/MAX of Marble Falls
830-265-0310
zinasells@gmail.com

Hello Sheila,

You could do a free prequalification for a home loan with any bank / mortgage company of your choice to find out how much you could qualify for. If you qualify and do purchase a home, the monthly mortgage payments will definitely help improve your credit!

Some more reasons to buy a home in 2009:

- First Time Homebuyer's Tax Incentive: If you haven't owned a home in the last 3 years you may be eligible for up to $8000 with your next tax return for purchasing a home this year. You don't even have to wait until your next tax return, after closing on your house, you could file an amendment on this year's taxes and get this money right away. http://www.HousingMarketFacts.com

- You can claim the interest paid for a mortgage on your taxes whereas you can't claim rent on your taxes.

I'll be happy to give you more information & answer your questions and concerns.
Please feel free to call, text or email me!

Jeanette Harris
Coldwell Banker United
Realtor®

Call Cell: 254-319-1316
Office: 254-200-3800 ext. 7361
Fax: 888-317-1975
jharris@cbunited.com