I am trying to purchase a home for around 50 to 60k in the high desert area but don't have good credit, I do however have 20k I can put down

Asked by Rubi, Victorville, CA Thu Jul 12, 2012

I wonder if my father with good credit can b a cosigner even if he's on disability now,? Or my wifes father who is retired and on a pension be a cosigner?

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Caroline K L…, Agent, Hesperia, CA
Thu Jul 12, 2012
Hi Rubi,

There are sellers who would carry a note with $20k down in the price range of $50K - 60K. If you would like more information on how this would work, please give me a call or send me an email. Caroline 760-217-9163 love@kw.com
1 vote
Rich Homer, Agent, NAPLES, FL
Sun Jul 15, 2012
Find a Realtor right away for advice in your proposed zip code. You can search "Find a Pro" in the header of this website. From your friends at http://www.naplesrealestateguys.com/
0 votes
Betty Kerr C…, Agent, Irvine, CA
Sun Jul 15, 2012
Call The Loan Lady at 760-365-7003 or 760-218-6322 she does hard money loans.
0 votes
Devona Garri…, , Beaumont, CA
Sun Jul 15, 2012
Yes, you can have your father co-sign with you, but you will still have a minimum credit requirement. You need to sit down and talk with a good lender.
0 votes
Hector Reyes, Agent, Victorville, CA
Sun Jul 15, 2012
Hello Rubi,

You could use a hard money lender but be prepare to pay a high interest rate.

I have a lender who does hard money lending and if you would like to talk to him just call or text me 760-881-4274 and I will give you the name & number..

Good luck

Hector Reyes
Realtor at All SoCal Homes
¡Hablo Español!
Cell: 760-881-4274
DRE Lic # 01832572
0 votes
Betty Kerr C…, Agent, Irvine, CA
Sun Jul 15, 2012
Hello Rubi,

Even though buyer representation is now largely available to home buyers across the country, it wasn’t always so. As an advocate of home buyers, REBAC has played a key role in creating that change—helping home buyers receive the same level of representation in real estate transactions that was previously only awarded to sellers.

By effecting substantial changes to the REALTORS® Code of Ethics, REBAC has helped change the way real estate brokerage is conducted across the country, ultimately providing better service to real estate home buyers.

REBAC continues to serve home buyers by providing valuable information resources on the buying process and helping to connect home buyers with qualified buyer’s representatives

I WILL represent you as a Buyer's Agent call me today!

Betty Kerr
0 votes
Albert Marru…, , Victorville, CA
Sat Jul 14, 2012
Albert Marrujo Jr, Real Estate Pro, Victorville, CA
Yes, it is perfectly legal and acceptable in todays economic climate. Many negatives answers are listed here and the are all written by realtors or brokers. Anybody care to wonder why realtors and brokers are so against it?

You don't have to pay a 6% commission (3%buyer agent, 3%seller agent) is the biggest reason they advise against it. If the " licensed" real estate industry was so above board and looking out for you, why/how did the housing bubble occur? Somebody had to sell all those houses knowing that bogus loans were used by people that could never repay. The only thought was of higher & more frequent commissions! That is what a RE agent or broker won't tell you!!

Call me or E-mail me if you have any questions or want the truth about Rent to Own.

Albert Marrujo Jr
0 votes
lahouse4sale, Agent, Los Angeles, CA
Thu Jul 12, 2012
Hi Rubi, I use a mortgage loan officer instead of the banks. Three quick questions for you. What other debts do you have at the moment (car payments, credit cards)? Are you married? Whats your credit score (if you know)? At a 60k house your looking at a small house with hardly any neighbors but you will get a big Big yard. Give me a call so we can chat, I migth be able to help you. Izzy (213) 221-1321 http://izzyLA.com
0 votes
Bo Goulet, b…, Agent, Spring Valley Lake, CA
Thu Jul 12, 2012

A co-signer can help if you don't earn enough to qualify for a loan, but cannot make up for bad credit.

It is best if you speak directly with a good local lender.

I would give Wells Fargo Home Mortgage a call. You can find them at http://www.wellsfargo.com/mortgage
0 votes
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