How can i find a house for 2 adults and a child with only 1 person working?

Asked by Lorretta, Gettysburg, PA Fri Nov 23, 2007

I just had a baby and i dondt have a job but my boyfriend dose. We are barly making it with just one pay check. I am a stay home mom.

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Cheri, Home Buyer, Fairfield, PA
Wed Jul 24, 2013
Hi Lorretta - I would say the very first thing you should do is talk to a lender, hopefully me, and review what type of loan products are available in our area. It would also be good to sit down with me and review your budget so that if you are not exactly ready to purchase right now I could set the financial goal for you to purchase.

There is no cost for my services.

I would be delighted to speak with you.

Cheri Uhrinek
Loan Officer
Vision Mortgage Captial
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Danial Danse…, , Nassau County, NY
Fri Nov 23, 2007
FInd a realtor that you are comfortable with and explain your situation. A knowledgable realtor can direct you to a reputable mortgage company for a pre-approval and then show you the homes that are in your price range. I agree with Lorie and I also recommend that you stay at the lower end of your price range, especially with the new baby.
Good luck to you and your family.
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Edmund Choi, Agent, Paoli, PA
Fri Nov 23, 2007
Consult a mortgage lender to determine how much housing you can afford. The most important item to review is not your rate, but the Good Faith Estimate, an estimate of the costs associated with the transaction and your expected future payments. It it makes sense, good luck house hunting!!!
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Lorie Gould, Agent, Duluth, GA
Fri Nov 23, 2007
Congratulations on making the sacrifice to be a stay at home mom. It is unclear in your question as to whether you are looking for a home to rent or buy so I will cover both for you.

When purchasing a home, your boyfriend will want to contact a local home lender to get pre-approved and they will provide him with how much they will loan him for a home and how much money would be required down. What your boyfriend is qualified to buy will be based on income, debt, and credit history. With a small baby I would recommend that he purchase a home on the lower end of the approval range so you have money for emergencies and those costly diapers. If your credit is worthy you can still go on the loan with him. If your credit is not worthy then you can go on title which you would want to do so that you would have rights if something happened to your boyfriend.

When renting, most landlords pull your credit reports because they want to know that you are likely to pay rent each month. There are some landlords that go by references and do not check credit but they typically require larger deposits.

My question to you would be where are you living now? If you are paying rent now and barely making it then you would want to make sure that you buy a home with the same payment as what you are currently paying. Live within your means! You will actually be ahead at the end of the year as you will get some tax benefits from owning. Check with your accountant for the benefits.

Congratulations on your new baby!
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