I have the best lender for you to work with! He has all sorts of programs available.
Just call or email me and I will forward info to you.
Warm regards, firstname.lastname@example.org 512-909-5807... more
First, it would DEFINITELY be better to purchase a home if you can then rent. Basically right now you're throwing away $1200 per month toward someone else's mortgage and helping them increase their net worth. Homeowners average 33 times the net worth of the typical renter! Some studies actually say 38 times the net worth of a renter.
As far as getting a loan with credit scores like yours, it will probably be difficult. However, I would be happy to refer you to a lender to take a look at your overall situation including your debt, income, credit, etc. and let you know where you need to be and how you can get there to be able to purchase a home. My lenders do not charge anything for this process, and if needed, can recommend a credit repair specialist that's reputable to assist you. Many credit repair companies charge a lot and promise a lot and cannot deliver. You must be careful as I have seen quite a few unscrupulous companies in that business!
If you would like me to connect you with a lender, just contact me and I will do all I can to assist you!
Joe Jarusinsky, Realtor, Keller Williams Realty, 512-261-4415... more
There are owner-financed properties and motivated sellers out there if you are willing roll up your sleeves and get to work on structuring an offer that will work, I have done many transactions where my buyer either had bad credit, no credit, little or no money for a downpayment, there are many creative ways to accomplish this if:
1. You are motivated to do it and
2. You have an agent that has some knowledge and experience in doing these types of deals.
I just had an offer accepted yesterday on a property where the seller offered to finance, but my buyer did not have 10% to put down, and his "credit" report consisted of chargeoffs and collections. He had not 1 positive thing on his credit. however, I have known this young man's family for 30 years and his Mom is like, my best client ever, but both she, and her whole family, have gone from rich to hard times in the last 10 years. I advised my buyer to compensate for his negative credit and his lack of adequate funds by offering to pay OVER list price, and I also agreed to take my fee in payments from the seller, as my buyer makes the payments. The seller was truly touched by the fact that we understood his position, and our shortcomings, so he agreed to take our offer. I would rather have some payments coming in myself, than nothing at all, and I am happy to have moved my buyer forward to be able to get his first home. And the seller, Bless his heart, now has some income instead of a vacant house that is costing him per diem. I think everybody took a chance on this deal, but, nothing ventured, nothing gained.
Call me if I can help.
Tim Sweeney realtor
30 Years Experience.... more