Home Buying in Livonia>Question Details

Heather, Home Buyer in Livonia, LA

this is first time buying a house? where do i start! how great of a credit score do i need?

Asked by Heather, Livonia, LA Tue Jan 20, 2009

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Yes Heather the first thing you should do is speak to a lender. Talk to someone local and reputable. Don't waste your time shopping for a mortgage on the internet. There is a lot of misinformation out there. You'll probably need at least a 600 or so credit score, but the higher the credit the more programs you'll have available to you.

You'll want to gather up your pay stubs from the last month and a few months of bank statements so you can find out how much of a payment you qualify for.

I've been in the business for years, I'm based out of Ann Arbor and I reside in Plymouth. I can help educate you on the process and answer all your questions. Feel free to give me a call at 734-528-5511 or drop me an email at anthony_grech@countrywide.com

Congrats on deciding to take the plunge!
Tony
0 votes Thank Flag Link Tue Jan 20, 2009
Hi Heather,

The first thing you need to do is speak to a loan officer. They can tell you how much you can afford, so you are not wasting you time looking at houses out of you price range. Also if you find a good one if your credit is not where it needs to be, they can help you with a plan to get it there. Next find a good Realtor, normally we don't charge the buyers anything for our services. As far as credit score that answer varies depending on the company. Remember that FHA loans are coming back and they don't weigh heavily on credit scores. check itout and good luck!
0 votes Thank Flag Link Tue Jan 20, 2009
Lender approval via a mortgage broker you need contact will review your financial records, debt ratio, employment history, downpayment, credit scores in the 600's +. If you are not approved request loan officer provide you tips on how qualify for a loan. Each year you receive annual tax benefits.
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Tue Jan 20, 2009
Hi Heather,

It's a great time to buy and there are lots of wonderful deals out there for you to take advantage of.

Here is a really great site with probably more information than you really need, but it's a terrific resource for first time buyers:

http://www.hud.gov/offices/hsg/sfh/buying/buyhm.cfm

I'll let a mortgage rep answer the credit score question, but feel free to visit my website below for more information or call me at 248-974-6210.
Web Reference: http://MichiganMoves.com
0 votes Thank Flag Link Tue Jan 20, 2009
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