Most lenders will be looking for a 620 or 640 score, but if your income is low enough then you can apply directly with USDA and there actually is no minimum required credit score in that situation. With a score less than 640 the Direct version of USDA generally requires 12 months of clean credit and all past due accounts (collections, charge-offs, etc.) to all be paid.
You can find the income limits for the Direct version of USDA for the state of Mississippi at http://www.rurdev.usda.gov/SupportDocuments/MS%20Direct.pdf and if it is, then I'd recommend you contact the below individual at the USDA office right in Tupelo:
Community Development Manager
(662) 680-9991 ext 22
(662) 844-2036 fax
If you can get your score up to a 620 or 640 level then you would also have mortgage lenders to choose from. There used to be quite a few lenders whose USDA programs went down to a 580 score but I am not aware of any still doing scores that low.... more
Contact a local agent in your area to get an accurate up to date list of properties available. The lenders wiith foreclosed properties normally only work through agents to list and sell their foreclosed properties.
All the best,
Gary Geer... more
I am not in Mississippi But I would Suggest that you find a realtor in your area, and if I were that realtor or home owner I would require a 7-10% down payment none refundable. and only carry the note for 2 years. Good Luck.
Tricia Avila ABR. SFR.
Realty Executive Suburbia
1224 SE Louis Dr
Real Estate Knowledge in Action.... more
The taxes are $1,320 per year under homestead. The home is located inside the Tupelo city limits in Lee Acres subdivision. The total utility costs disclosed by the seller average $190 per month and includes electric, gas, sewer, water, and trash pickup. The closest school to this home is Pierce St Elementary.... more
Hi Countryhome, I'm not in Lee County, MS, but a good, local agent should be able to help you find a suitable home. Our mulitple listing service provides a search field for accessiblity and I would imagine that is the same across the country.
In the meantime here are a couple of good links that may prove to be helpful. Be sure to read to the bottom of the blog on the 2nd link. There are grants available for veterans and that money can be used to adapt a home to being handicapped accessible.
Stephanie Kelley, ABR, CRS, GRI
Keller Williams Legacy... more
Hi John, You can view listings from just about any MLS system through several different places like realtor.com. Unfortunately, if you are trying to view homes that are already closed so that you can determine values, you will need to have a real estate agent that will help you. Not only is it somewhat expensive to acess the MLS, but you also have to have an active license, whether realtor or appraiser. My suggestion....find you a agent that doesn't mind looking up things and be sure to give them your business if you should purchase or sell.... more
It happens all the time. Especially with the current market the seller is going to work with you. Be sure to work out all terms in advance because as the market changes the sellers attitude towards the sale is going to change as well. In California they call it a lease purchase contract, but I'm sure they have the same thing in your area as well. Good luck!
Make it a great day,
Steele Realty... more
1) read the local newspapers for legal notices of foreclosures.
2)contact local banks directly.
3)contact a local Realtor who can birddog foreclosures for you.
4) Get a trial membership at RealtyTrac.com
Dan in Fairhope, AL 36532... more
A Realtor is the best way to find an accurate market analysis. I don't know of a site that gives you the actual sold price of homes in your area. Although it is public information in our state, there is not a way to easily access that information. You are right in not wanting to call your agent often to ask such questions. Giving out free information does not make money and does use our time. If you have a good working relationship with your agent, maybe they won't mind.... more