I would agree with you on the 5% conventional. It should be less monthly w/out the FHA mortgage premium.
A good, competent lender can help you best.
First Porfolio Mortgage
If I can help with anything at all during your search, I'd consider it a privilege. I lived in Herndon for 7 years, my office is in Reston, VA.
All my best,
Keller Williams Realty
You may qualify for an FHA loan. If you are looking in the DC area, I have a few lenders that can work with you. Please call me at 703-625-6731 or email me at firstname.lastname@example.org if interested.... more
I've recently helped a couple buy their first home with down payment assistance from the county. It's absolutely not unrealistic to start looking into buying and taking care of your debt but before you do anything I would highly recommend that you get together with a buyer's agent who can help you through the process and also find you a lender who may have a program for your needs. Paying off all the debt is not always the case but your loan officer can look at your report and point out what needs to be paid to get you financed for your first home. Interview 2-3 different agents in your area and work with the one who understands your needs the best. If you want I can also find you a knowledgeable buyer's agent through my network, let me know if I can be of any help and Good Luck for your first home!!
Faiza Alvi - Realtor®
Prince William Realty, Inc.
MILLION DOLLAR CLUB - PWAR 2011
Real Estate is about building relationships
& serving clients with honesty, integrity & passion.... more
For your situation, you might get a private lender to finance you for 40% of the purchase price at 10-14% interest. At 20-30% downpayment, you won't be able to qualify for a conventional loan with no credit history. Even locals with such a downpayment and great credit have a hard time getting a conventional loan with the tight lending standards.
I'd recommend you purchase a home with all cash or just rent while you're here.... more
Yes - I believe this is very possible, as long as you can show that you would be able to pay back the loans. I am referring to people who have businesses or are independent contractors - can be harder to qualify - requires more documentation and longevity of work as a business owner/independent contractor. Let me know if you would like some referrals to local loan officers or if you need help finding your next property.
Disputed items are supposed to be resolved within 30 days. When you file a dispute the credit reporting agency has 30 days to confirm the item in writing. If they do not receive written confirmation, then the item has to be removed from your credit report. If the disputes are more than 30 days old then the credit reporting agency has to remove them, it is the responsibility of the agency to take care of this.
If I were you I would send them a certified letter stating exactly that and demanding that these items be cleared up immediately and your credit report changed to reflect the result.
Be prepared, though, for the mortgage company to use yet another credit reporting agency. And, if they DO then get the name and address of their credit reporting agency and have THAT report updated as well. It could take a little while, 30 days or so, but it will be worth it in the long run. Your lender should be able to help you as well.... more
Hi Lucky, It sounds like whoever can help you shall know more than this paragraph. Are you working with an agent who can help you through this?
Bottom Line is if they wont allow extension and give you notice normally buyers have 3 days to remove the contg or contract is void..
I recommend using an attorney to guide you through since there could be more details to know before anyone can give you advise or you act on someones advise Please talk to a real estate attorney, he/she can be found working at the settlement company that you were going to use.
703 626 3327... more
I live in Herndon and just pulled information on that area. There is only 1 property available at this time. Contact me to take a look! I can also set you up with your own search that is updated every 30 minutes! Contact me today!
You did not mention whether the dip Is in a concrete floor or other. If your inspector found what he thought was a defect in the structure, your agent should be asking the seller to pay for the inspection/repairs in an Addendum. If the seller will not pay for the inspection/repair, do your own research and "Google" structural engineers to find out their earliest availability and how they charge. If it turns out to be a structural defect, the seller should pay. Last year I asked the sellers on behalf of my buyers to have a basement wall crack inspected -- it ended up costing the seller $15k for the inspection and repair. Good luck!... more
Don't worry there are systems out there that can get you to where you want to be very quickly, easily and they are extremely cost effective. I use them with my clients all the time and they allow individuals whose scores are in the low 500's to purchase within 6 to 8 months. With your score already being at 630 to 640, you are already ready to purchase but that slight nudge will give you greater latitude on a better interest rate. If you are ready to get going please inbox me so I can help you "Find Your Home of Choice".... more
I know of a few townhomes that fit that description. If you would like more info on them contact me and we can set up a time to go look at them. One subdivision I work in is right off of Rt. 50 in Fairfax near the entrance to 66. I wouldn't mind showing you them or others in another area you might be interested in.... more
The mortgage loan interest rate does NOT depend on credit score alone. The type of loan you use (conventional, FHA, VA, etc), the size of the downpayment, your debt-to-income ratio and debt-to-equity ratio, the points you prepay, the lender you use are also very important.
I suggest that you contact several lenders and compare their loan products.
KELLER WILLIAMS REALTY
Here are a few:
Also, check Craigslist and other sources. Many individual owners (most of whom don't list rentals on MRIS) will rent to people with pets.
Hope that helps.... more