Can anyone help a first time buyer with 0 down that needs to close before end of year?

Asked by Cara Cusack, Italy, TX Mon Sep 9, 2013

560 tri-merge, have not yet gotten a secured card or secured loan from my bank to bring it up, also was told Ox Publishing would bring it up another 40-60 points. Income and debt ratio are well within range. 2 year rental history with real estate mgmt company at $1695 month. Looking for something less than we qualify for income wise. No money due to an emergency within the family that ate our savings. Have to move by end of year or start new lease. I need to move close to my job near DFW airport since I currently live in Weatherford and I am driving 3 hours a day to and from work.

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Rick DeVoss, Agent, Ft Worth, TX
Wed Sep 11, 2013
Dear Cara ---

You have identified a common problem that many buyers are faced with, and I understand what you are saying. But there are several ways around your dilema, and that is one of my specialties. We just have to be creative, and I will negotiate with the seller to help you out. This is the kind of thing I have been doing for the last 33 years right here in Tarrant County. I live and work near the DFW airport. I was a pilot in the past, so I love the sound of the jets!

If you will contact me directly at the email address shown below, I will be very happy to help you find the right house, AND get the right financing arranged for you. It does not sound that hard to me at all, and I'll show you how to get over the hurdle you are facing. ~There are many ways to skin the cat! (I will tailor a program just to fit your needs, as everyone is different. What worked for the last guy may not work for you.)

But I can guarantee you there is a way for you to get a house and meet your goals.

Contact me for an appointment as soon as you can. If you want to buy before the holidays, we need to get started right away!

Best regards,

Rick DeVoss

ULTRA Real Estate Services
1 vote
Ginger Westf…, Agent, Fort Worth, TX
Tue Sep 17, 2013
If anyone can it will be Rae Lyn Boyer with SWBC Mortgage. She's an a amazing loan officer! Give her a call @ 682.465.5065
1 vote
John Lyng, , Dallas, TX
Sat Sep 14, 2013

I have a program that might help. Check out to get some background, and get to a workshop to start the process. I am doing a workshop a week from today, Sept. 21 at the Warren Avenue Christian Church located at 2431 Warren Avenue, Dallas, TX 75215 from 9am-Noon.

My program requires no down payment, closing costs or perfect credit. I don't consider FICO scores so paying for the programs you were talking about isn't necessary. If you're at a 560 now those programs won't get you to a 640 by the end of the year anyway.

If you're serious about getting into a home by the end of the year I advise you to get the process started ASAP.

John Lyng
Mortgage Counselor - NMLS 280951
1 vote
Cara Cusack, Home Buyer, Italy, TX
Wed Sep 11, 2013
OK, let me clarify. The 3.5% down is not an issue. We make enough every month to cover that with no problem. It's coming up with that AND closing AND moving costs that would cause a problem.
1 vote
Cara --- Contact me directly at my email address after you read the next answer I post.
We need to talk.
Flag Wed Sep 11, 2013
Rick DeVoss, Agent, Ft Worth, TX
Tue Sep 10, 2013
Casa ---

Your situation is a tough one, but I would be glad to help you if I can. Even though I have been selling houses around the DFW area for over 33 years, your current situation does not have an easy solution. There are 3 things needed to buy a house: Credit, Money, and a Job. You have only one of the three. With two, it might be a lot easier.

Be VERY careful you don't get sucked into some scam by someone who will take your money and offer all kinds of promises. Your plea sounds too desperate, and it is people like that who usually get taken advantage of.

I can understand your desire to move to a new house, but what makes you feel like you have to buy one before the end of the year? My suggestion to you is to give your notice, and then let's find you a nice house to lease for the next year. You should get the cheapest house you can stand, and put the rest of the rent you have been spending into a savings account so you will have a down payment by next Summer. Loan officers and real estate agents will generally not make this suggestion to you because they don't make a commission that way. I can help you raise your credit score over the next year, but it does not happen over night. (I do not charge anything for this consultation.) I will volunteer to help you find a house that is for lease and we'll get your family settled in for the Winter. Then we will begin the long process of preparing you for a loan application next year.

Contact me directly if you would like my assistance.

Rick DeVoss

ULTRA Real Estate Services

1 vote
Pat & Steve…, Agent, Westlake, OH
Mon Sep 9, 2013
We suggest that you talk to a loan officer at two banks located in the city where you are relocating.
1 vote
Brian Nguyen, Mortgage Broker Or Lender, Mission Viejo, CA
Mon Feb 24, 2014
It can be tough to get a loan that doesn't require any down payment unless you are a veteran or planning to buy a USDA approved home. If this applies to you then you are eligible for a VA or USDA loan with does require a down payment. Otherwise, the best that can be done for you is an FHA loan that only requires a 3.5% down payment which is still relatively low. Along with that, if you can get a community grant, that can cover 3% of that 3.5% leaving only .5% for you to pay. If you are interested in this, please give me a call and I would be more than willing to help you out.

Well I hope this helps! If you have any further questions or if you need a loan, feel free to contact me. Also, if you found this helpful please leave me a recommendation if you can!

Good Luck!

Brian Nguyen Sr.
Mortgage Banker
NMLS # 659743
Phone: 949.667.2887
0 votes
Susie Kay, Agent, Dallas, TX
Mon Jan 6, 2014
If you still need help finding a home and a lender, give me a call at 469-371-2899.

Susie Kay, Realtor®
United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240

Servicing your real estate need is my priority!
0 votes
Lynn Jackson, Agent, Dallas, TX
Tue Sep 10, 2013
No SCAM here!!! Cara, if you want to find a house to lease NOW that someone will buy for you so you can "reserve" it to buy in the future, there is nothing to lose but the same rent money you would pay on any new lease or the same one you have now... Let me help you! No obligation. No investment other than typical deposit and rent, but it will allow you to find a home that you want to be in long term so you are not moving again!!!
See answer below.
Call me!
Lynn Jackson
0 votes
Lynn Jackson, Agent, Dallas, TX
Mon Sep 9, 2013
Cara, I think I can help you! I know of a company that offers a program that provides responsible households who cannot obtain a mortgage a path to home ownership. They will buy a home in cash, lease it to you, and provide the right to acquire it anytime during the lease period. Your financial obligation is limited to one year of rent! You can elect to rent for up to 3 years. You can move out after one year without penalty. You can purchase the home anytime during your tenancy once you qualify for a "normal" loan. This means you can go find a home NOW, have someone buy it for you, lease it as long as you want, and buy it when you have some downpayment money saved, maybe within the next year or so. If you don't want to keep renting where you are at because of the long commute, let's go find you a home and have this company buy it for you and make it available for you to purchase at a pre-determined purchase price in the future!
Call me/text me anytime at 214-551-3013. My personal email is I am a licensed agent for North Texas, and can put you in touch with this company so they can explain their program. If you are interested, I will work with you to find a great home that you can move into before the end of the year!!
0 votes
, ,
Mon Sep 9, 2013
Tough deal. But not undo-able.

Here is a book to read. Free download.

Do you have good tradelines? I know you want to add credit to raise the score, but while they raise the score, they aren't good credit accounts for us until they are 12 onths old.

There are some $0 down deals.
1. VA loan for Veterans
2. USDA - Rural development loans.... think outside of the city limits.

I know a lot about credit and credit qualifying for a home loan. Let me know if you have any follow-up questions.

Tom Burris
Mortgage Banker
(214) 763-4629 cell/text/nights/weekends(Really!!)
Lending all across the entire Great State of Texas!!
NMLS# 335055
Search Dallas area MLS for FREE. No registration =>
0 votes
Robin Glaysh…, Agent, Fort Worth, TX
Mon Sep 9, 2013
I'd love to try to help you, give me a call.
0 votes
Brian Rickard, Agent, Fort Worth, TX
Mon Sep 9, 2013
Lots of factors to consider. I can recommend some lenders for you to call and discuss. Send me your email and I will forward them to you.


Brants Realtors
0 votes
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