I am new to the whole home buying thing could you recommend a good place to get information a new home buyer should know?

Asked by attitudext, Troutdale, OR Sun Apr 14, 2013

I have been renting for about 13 years now and i am so tired of it, the only thing that has prohibited me from buying is my credit score is not that great and i am not sure i would even get approved for a loan. I just need some information on how to go about buying a home. I look on here all the time i really like trulia i figured you guys would be a good place to ask this question.

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Jennifer Peterson’s answer
Jennifer Pet…, Agent, Portland, OR
Mon Apr 15, 2013
My team has a class coming up for people wanting more information on your home. Please contact us if you would like more information on the class! :)

Mandy Lewis and Jennifer Peterson
http://www.PDXRockstars.com
503-888-3180
Keller Williams
1 vote
Tom Inglesby, Agent, Portland, OR
Mon Apr 15, 2013
The first place to start is with a great lender. Call Karen at equity home mortgage. She is a mortgage broker and can get you approved or in the right direction in less than 10 days. many lenders will not do this but if you really want to buy a house you need to be guaranteed that you will be given a loan as long as the house has to appraise that is it. Good luck to you. There are still 0 down loans out there depending on area. Tom Inglesby, Broker
1 vote
Property Que…, Both Buyer And Seller, 97230
Mon Apr 15, 2013
Hi there, there are government loans available for you if you don't mind living in rural areas around Portland. send me an email at propertyquestllc@comcast.net and I can send you some information. Thank you, Ashlee
1 vote
Lana Lavenba…, Agent, Grants Pass, OR
Sun Apr 14, 2013
My suggestion is that you go to: http://www.oregonrealtors.org/About_OAR/buyadv.html
and read over all that is there to give you a good start.

Then I would go to a local lender to see what you qualify for-then a realtor so that they can take it from there...
1 vote
Allison Fish…, Agent, Ann Arbor, MI
Sun Apr 14, 2013
Talk to a few recommended lenders in your area...they should help you understand exactly what you need to do and if they cannot approve you for what you are looking for at this time they will help you to create specific goals to get you where you want to be. Good luck!
1 vote
Jamey Nedeli…, Agent, Portland, OR
Sun Apr 14, 2013
The best thing you can do is connect with a local realtor and mortgage lender. Here's some great info to get you started in the process: http://ow.ly/k3uPx
Connecting with someone you trust is the key to a successful home buying experience!
1 vote
, ,
Sun Apr 14, 2013
Definately start by talking with a mortgage professional. They can take a look at the credit along with the big picture, like the down payment and income, and set you off in the right direction armed with solid plan of action. Let me know if I can be of any help.
1 vote
Rich Homer, Agent, NAPLES, FL
Sun Apr 14, 2013
Best next action is to ask a local Real Estate Broker by clicking "Find a Pro" in the main menu at the top of this website. http://www.naplesrealestateguys.com/
1 vote
Valerie D'Am…, Agent, New York, NY
Wed May 14, 2014
I would recommend contacting a local realtor and him/her walk you through the process. However there are a couple steps that must be taken in order to get you a home.

1. Consult a Mortgage Profesional for a pre approval letter
(try to stay away from big banks) (go with a mortgage bank)
2. Consult a Realtor
(contact you local top brokerage and work with someone who is credible and who has been selling homes in that area for at least year)
3.Find a home, place a bid (offer to purchase agreement)
4.Depending on you state laws, get an attorney to draw up contracts
(some states allow for Realtors to draw up contracts)
5. get a home inspection done
6. Sign Contracts
7. Appraisal
8. Closing Date

Roughly this is the timeline for a home purchase, of course its simplified to make it look stress free, but if you have the rite Realtor it will be a smooth transition.


All the Best
0 votes
Rian Muleback, Agent, Sandy, OR
Tue May 13, 2014
I believe the best place to get info would be from an agent who has been in the business awhile. They will provide you with more info and be able to answer specific questions that you have right away. They will also have the experience that someone who writes something on a website may not have. Read through their profiles and see how much experience they have in the business and then pick one to work with.
0 votes
Jeff Vickers…, Agent, Clackamas, OR
Sun Sep 29, 2013
Hello Attitudext,

I understand you situation completely. Your direction is not clear what options you may or may not have available to you. You do not want to be led into the unknown only to find out after a great deal of time an effort was spent making or chasing the wrong decision.

As with any profession there are good and not so good professionals you may get involved with. You need a trusted advisor that has no strings attached if you discover that maybe this is not the best time for you to buy. Never the less it would be prudent to posses the correct information necessary to guide your decision if it is a good/possible move for you to purchase.

I would recommend that you avoid anyone who wants to be your “best friend”. Interview a few agents by phone (voice contact is very revealing). Choose an agent who will tell you what you need to know not what you want to hear. BTW you do not need a buyer/agent contract to find out the information you are seeking. There are many good agents who will give good advice freely to you. All you need to do is start kicking tires so to speak. Thank you.

Regards,
Jeff Vickers
Oregon Realty Co.
0 votes
, ,
Thu May 23, 2013
Good morning attitudext,

First steps:

Meet with a Local Mortgage Banker to get prequalified for mortgage financing. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for.

Line up a Home Inspector. A good home inspector will scare the heck out of you: that's what you pay him for! But you'll concentrate on the fundamentals of the property: roof free of leaks, plumbing, heating and electrical up to code and in good working order. Again, when you make an offer and you have your Home Inspector ready to go, your offer will be considered with much more interest by a Seller because you truly have your "ducks in a row" and your preparation demonstrates your serious attitude about conducting the purchase transaction in a timely manner.

Find an experienced Local Realtor who works in your desired shopping area. A serious pro Realtor will refuse to show you homes until you are Prequalified for mortgage financing. Don't take offense! That Realtor doesn't want you to be disappointed and wants you to have a smooth experience as you shop for your new home.

Put together your Team of real estate professionals and shop 'til you drop!

Trevor Curran
NMLS #40140

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
0 votes
Wayne Pruner, Agent, Beaverton, OR
Wed May 22, 2013
The first thing you need to do is improve your credit score. Channel your energy in this area first. There are thousands of resources on the Internet.
Try this link: http://www.federalreserve.gov/consumerinfo/fivetips_creditsc…
Then go to FICO.com
Good luck.
0 votes
Claudia Poba…, Agent, Portland, OR
Mon May 20, 2013
My best suggestion is to contact a local non-profit like Portland Housing Center http://www.portlandhousingcenter.org they will be able to assist you with education, financial classes and maybe see if you qualify for some of the available downpayment assistance programs
Good luck!
0 votes
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