Are we ready to buy a home?

Asked by Laura Putegnat, Fri Aug 3, 2012

We just married a while back ago, and we are renting (which we hate ). My question is that are we ready to buy our frist home our apartment? Im a receptionist that makes 1000 every two Weeks , we have like 785 in debt with good credit and my husband makes around 700 weekly , no payments other that cc. we have some savings but we want a home so badly that we are saving all we can. No kids which is great!! Can someone please let me know what can I affords or what can I do?

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Darrell D. D…, Agent, Schertz, TX
Fri Aug 3, 2012
I know you gave some facts, but without total debt amounts, debt ratios, job stability, actual credit scores, income verification, etc., any answer will be a mere shot in the dark. I'll answer you question by advising you to seek out a local lender and have them pull your credit and do a work up to see where you stand. Tis should not cost you anything and will take the guesswork out of the answer. Good Luck.
2 votes
Addie Sechel…, Home Owner, Houston, TX
Wed Aug 8, 2012
Hi Laura,

I am a Sr. Loan Officer/Branch Manager for Academy Mortgage and would be glad to talk with you more about buying a home now or in the future. I can pull a free credit report, and discuss several loan options with you. With your free credit report, I can provide you with a credit analyzer that will provide details of anything you could do to increase your score whether you decide to buy now or later. Please feel free to contact me directly at your convenience. You can also complete the application on-line if you want to start there.
My cell phone is 832-754-6711 and e-mail is I am happy to answer all your questions, and I specialize in 1st time Homebuyers. Congratulations on making the first step towards being a homeowner!

Hope to hear from you soon!

Thank you,

1 vote
Marc White, Agent, Charlotte, NC
Fri Aug 3, 2012
You need to speak to a local mortgage specialist about your situation. You maybe able to qualify, but your exact circumstances can be assessed by a good lender.
1 vote
Anthony Tayl…, Agent, HOUSTON, TX
Fri Aug 10, 2012
Are you working with a real estate company or professional at this time? If not, please contact my office 832-301-4841 for more information pertaining to your question. Is that the only zip code that you're wanting to buy a home?
0 votes
Lerma Sampang, Agent, Houston, TX
Sat Aug 4, 2012
Your enthusiasm, all the efforts of saving up and giving investing in your own home a careful thought are good indications that you would be a responsible home-owner. As far as numbers go, it would be best to sit down with a mortgage broker, loan officer or lender to have a clear picture of your capability to own a home at this time. Financial readiness sure is a very important consideration in a home purchase & I commend you for giving it a careful thought.

I have a team of mortgage professionals I work with that I can refer to you. I also have some insightful tips hand-out for first-time home buyers like you. Don't hesitate to email or call me if you want to request for them. It is absolutely free!
0 votes
Marcus Neces…, Agent, Bentonville, AR
Fri Aug 3, 2012
Darrell is spot on. The big question mark I have is "How much money do you have saved?" Not just for the down payment but for the HVAC that goes out or the plumbing leak or the roof repair. While a lender may not look as much at your reserves for this type of issue, it's something you should consider. You should definitely consult a local lender, but even if they approve you, make sure you're prepared for the unexpected.
0 votes
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