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Home Buying in Kansas City : Real Estate Advice

  • All98
  • Local Info4
  • Home Buying32
  • Home Selling5
  • Market Conditions0

Activity 48
Mon May 15, 2017
Kathy Burgreen answered:
Based on your reply below, the issue is you are self employed now. You need to understand that if you were employed with a company and receive a W2 (regular salary), lenders can easily verify your income and only need 1 month of paystubs or a letter from the employer.

Workers who are self employed, independent contractors, commission paid or receive a 1099, lenders cannot verify your income easily. Lenders need a 2 year work history + 2 years tax returns so they can average out your income and arrive at an estimated annual income.

Since you are self employed, you will need to wait the 2 years. No lender will give you a loan even with a co signer. You will also need cash to pay for closing costs. Income from foreign countries can count but in your situation, it makes no difference because of your self employment now.
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Mon Mar 20, 2017
Amy Dorthy asked:
i have been working on my credit score i have been living in housing for 5 years now. I have 4 kids. I know that my score is 517 with trans-union and equifax is 524. is my best option a…
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Thu Dec 22, 2016
equalme asked:
Anybody familiar with Maderos Property LLC?

I'm looking at a property that was built by Maderos Property. They tore down the original, very old/worn home, and built a brand new…
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Fri Aug 12, 2016
Aranzamarron asked:
I need to know if you have spanish speaker agents cause im interested in a rent to own with a low credit thanks
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Thu Apr 7, 2016
I was preapproved by Cornerstone mortgage with a credit score of 685 but I couldn't find a home within the 90 days which made my credit score and my preapproval letter expire on March…
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Sat Mar 26, 2016
Brittneys913 asked:
Looking for ideas on where to look for first time home buyer programs and mortgage loans that will help someone with a 570-600 credit score that is rebuilding credit. Or would it make more…
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Fri Mar 11, 2016
Jessy24kc asked:
Sat Feb 21, 2015
Taiasha Nichols answered:
The NACA program does not look at credit scores but looks at three tradelines ie; credit cards, car payment, electric bills. I am a Realtor with T Nick Real Estate. My name is Taiasha Nichols. You can call me at 816-728-0966 for more details...I have sent multiple people through this program and it works. ... more
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Sun Nov 2, 2014
supersoper2 asked:
Wed Oct 8, 2014
Jennie Murphy answered:
Buy from and investor and do a lease to own or owner financing !!!

Jennie Murphy
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Wed Jul 23, 2014
Brian Turner answered:
FHA has a no credit score program.. Give me a call
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Sat May 24, 2014
supersoper2 asked:
Wed May 7, 2014
Lori Jo Smith answered:
A great relationship you need to develop is with a local lender. Ask for recommedations and give several lenders a call to ask about your options. You are not obligated to a lender just because you call them. If they are pushy, just say no to them. You should never work with someone who makes you feel obligated. Be firm and direct and seek out the person you feel confident with after interviewing several people. It may help to be up front and say you are interviewing 3-5 people before decising on anyone lender. ... more
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Thu Apr 24, 2014
Richard Berry answered:
There's also a program called the Kansas Bond Program. It is a grant from the state of Kansas for first-time home buyers. They will cover up to 4% of the house cost for down payment. Up to .5% of that money can be used for closing costs. To have the cost totally forgiven, you have to live in the property for 5 years. Other limits apply, but that would be best covered with your loan agent.

If you need a great loan person, call Marianne Roper, HomeBridge Financial Services. 913-553-5905. Tell her I sent you.
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Sat Nov 30, 2013
Robert Baker answered:
Check with your Realtor on this questions, they will be your best resource.
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Sat Oct 26, 2013
Guiovanny Duque answered:
If you want photos of this property you need to contact the listing agent, I can not take pictures unless you are my client and with an authorization.
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Thu Jun 13, 2013
Debra (Debbie) Rose answered:
You have very limited options, - one actually - renting - this is possible with the right landlord.

Run in the opposite direction from any idea of "rent to own" - I won't take up space now telling you about all the dangers lurking for you (or anyone) in that arrangement .

You will not be approved for a loan, so buying is out of the question for the time being.
Truthfully, until you get your finances straightened out, you shouldn't even think of taking on more debt at this time(even if a seller were willing to offer you financing)

You need to concentrate on finding a landlord (not a management company, but it can't hurt to try) who will be sympathetic to your plight and happy to hear your jobs/incomes are stable.

If you work with an agent, they can help you find that landlord, and perhaps suggest ways you can offer him or her piece of mind in renting to you under the current circumstances. Maybe some upfront additional rent if it's allowed in your state (NJ doesn't allow that above 1.5 months rent). A letter explaining your situation might also prove useful. Personal references may come in handy, too.

May we assume you have money for the security deposit and any additional required deposits/upfront rent? If you don't, then you really need to sit down with an agent and try to figure it out.

Best wishes...........
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