Since the mortgage meltdown a few years back, loan requirements have become more stringent. You will need a credit score no lower than 620 (probably a bit higher) to qualify for FHA-insured financing, along with a minimum of 3.5% down. Figuring in some closing costs, you're looking at 6% to 8% in cash. Conventional mortgages require scores in the 700's, along with at least 5% down. As solid as your rental history is, the likelihood of obtaining a loan at this time is remote at best. Keep working to raise your credit score. There will be some great homes available ... Guaranteed. I wish you well.
They build a nice home they have not been building for a long time but build a nice house. Please call me and I help you negotiate with them or any other builder in the area. This is a free service to you.
Dunamis Realty Group
Hi Jessica; As of about 10 minutes ago, there were 155 available properties in Houston that were 3+ bedroom, 2+bathroom stand-alone dwellings listed at $1000 per month or less. Feel free to give me a call at 281.923.5658 and I'll be glad to show them to you. ;)... more
At one level, it could mean that the information was not current, or the GIGO principal was in force. Realistically though, it means that you should retain a buyer's agent. It likely will not cost you anything, and a knowledgeable agent can inform you about the myriad complexities of buying foreclosed properties.
BTW--Did you notice that realtytrac.com has two differently worded links to its agent search form on its home page? The primary purpose of the site is to generate leads for the agents who pay for referrals from the site. Albeit the information on the site is helpful, it is not everything you may wish to have known, and you should consider finding an agent through the form or posting a call for an agent here on Trulia. Good luck.... more
It really seems that you need some help there. Usually Builders' don't negotiate a whole lot better prices with clients without a realtor, and depending on the price of a home the commission for a buyers agent is somewhere around 2 to 3 %. Does that really make the difference? Your Realtor could also give you more information on different mortgages available for you and all the buying and closing procedures. All your questions could be answered if you would choose to work with somebody who is representing YOUR best interest. A Realtor can provide the most detailed information for you and you don't even have to pay for their services!!! Since you are already in negotiation with the builder you would have to check with them if they would still allow you to choose a realtor sometimes it gets tricky there. Have you already signed any contracts with the builder? Please check the TAR webpage http://www.texasrealtors.com/ and the NAR webpage http://www.realtor.org/ for further information on how Real Estate is supposed to work.
If you have any questions please donâ€™t hesitate to contact me or any other Realtor to help you.
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Phone: 936 525 0144... more