Rentals in Waterbury>Question Details

Qashar7171, Renter in Waterbury, CT

I do not have the best Credit in the world but I want to purchase a single family or multifamily home, what are the steps that I need to take to get

Asked by Qashar7171, Waterbury, CT Mon Jun 13, 2011

funding as a 1st time homebuyer to be able to purchase a not so expensive home?

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I would be happy to sit down with you and do a quick pre-qualification then research properties that fit your needs. There are many programs out there that may offer you your best options. I am with Weichert Realtors / Briotti Group, my direct line is 203-754-3676 or
0 votes Thank Flag Link Tue Apr 9, 2013
I work with a great mortgage originator who helped one of my clients raise his credit score up 60 points in less than a year. Last year he was a renter and now we're waiting for final approval of his mortgage with an estimated closing of this month. My client has been so happy with my and my mortgage originator's work that he referred us both to one of his co workers and I am now helping him find a home since his mortgage was pre approved by my originator.
Dan & I would love to help you become a home owner.
0 votes Thank Flag Link Tue Jun 14, 2011
With some banks, you can actually qualify for FHA financing with as low as a 500 credit score as long as you have 10% of your own funds to put down and strong ratios. Feel free to contact me. I can help you find homes in the Greater Waterbury area and can help you with the process from beginning to end!
0 votes Thank Flag Link Tue Jun 14, 2011
I will join the chorus. Cyndi is spot on. Requirements are still changing. To qualify for some programs you can have a score of 600. Find a "Direct Lender". One who has several programs and options for you. Good Hunting !
0 votes Thank Flag Link Mon Jun 13, 2011
Cyndi has the right answer. The first step is to contact a local, reputable, mortgage broker that can look at your specific situation and advise you waht your options are. There isn't anybody that can give you advise, that is worth anything, without knowing your specifics. Once you know what you can qualify for, or what you have to do to be able to qualify, then you can start looking at properties.
0 votes Thank Flag Link Mon Jun 13, 2011
The best advice I can say is marry rich! LOL. No, you want real advice. OK. Do you know what your credit score is? have you looked at your credit reports from all three credit bureaus? If not, you need to. You "might" be surprised what you find on your report. I had a lady, find a data from a MAN, on her report, he had a "similar" name, and when mis-typed his bad bank account that was closed landed on her report. The mistake or typo was from a $8/hr temp person who types this stuff into data basis...that error removed from her report improved the score by 50 points!!

Also, is now the BEST TIME TO BUY? I don't want to be negative nancy but rushing it now might not be the best solution.

Actually I just wrote a blog about the "best time to buy" a link to that is…

Also, here is a link to "buying the home of your dreams"

Hopefully that helps
0 votes Thank Flag Link Mon Jun 13, 2011
The first two steps should be (1) find a qualified mortgage lender to discuss the specifics of your credit and ability to secure a loan and (2) find a local realtor that will help you find the home/property that meets your needs and wants.

Good Luck!
Web Reference:
0 votes Thank Flag Link Mon Jun 13, 2011
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