Iam1234, Renter in Huntington Station, NY

so done with renting. How can I go about looking to buy with little down? Can afford 2200.00 for a mortage payment a month

Asked by Iam1234, Huntington Station, NY Sat Apr 14, 2012

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Amanda Luckow’s answer
You can do an FHA loan which only requires 3.5% down and with that as a mortgage payment you will be able to find a nice place with the market the way it is right now. If you let me know what you are looking for I can put you in touch with a great home loan company and in addition I can help you find the perfect house you are looking for! amanda.luckow@elliman.com
0 votes Thank Flag Link Thu Apr 26, 2012
HI Amanda--I am in the same situation as Iam1234--but can afford a little more,about 2500--can you please write me at bluechip5618@yahoo,and help me with this?
Pat
Flag Fri Mar 14, 2014
Hello Iam you couldn't have picked a better time to buy , first get yourself pre approved through a credible mortgage banker , then get yourself an agent that is looking out for your best interest. Look for the CBR or ABR logo and that agent is who you should talk to , also make sure they have the knowledge of your target areas , have a great day !!!
0 votes Thank Flag Link Sat Apr 14, 2012
Be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously, therefore begin by visiting with any loan officer; also choose an agent to work with, he/she will best guide you...
0 votes Thank Flag Link Sat Apr 14, 2012
With average taxes ranging from 5 to 6000 on the low side, and then your insurance fees and mortgage premium insurance fees put together probably another little bit taken off the top, Your left with enough for a decent starter home with a down payment of 3.5 percent down. Now you have to have a mortgage pro look at your credit and income and see what you qualify for and then the Realtor whol will help you locate the best home that will suit your lifestyle. My best guess is to start with a qualifed Realtor who will then lead you to a qualifed loan rep and the rest should be easy. What most rentors don't realize is that with the tax benefit , depending on your income you can receive an additional 20 to 30 percent more reduction in your payment after consulting with an accountant. Go for it.
0 votes Thank Flag Link Sat Apr 14, 2012
I can put you in touch with a great loan officer to pre qualify you so you know exactly what the bank will loan you.. also we will work with your income to make sure you will be able to live with your mortgage payments. Here is a great home search tool.....paularrigo.listingbook.com.....any questions feel free to contact me.
0 votes Thank Flag Link Sat Apr 14, 2012
Iam, it is important to get yourself ready to purchase.

Email or call me and I will be happy to provide free consulting. Gail@GladstoneGroupRealty.com or 631-425-6150.
0 votes Thank Flag Link Sat Apr 14, 2012
You can start by looking at some lease to buy homes. Some will offer owner financing. Talk with a mortgage professional to see where you stand with the other lending parameters such as credit etc.
0 votes Thank Flag Link Sat Apr 14, 2012
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