Mzlocqz89@gm…, Home Buyer in

I have a spotless rental history, "minimum wage" job, average credit, and no down payment. I'm tired of renting. Is it possible for me to own?

Asked by Mzlocqz89@gmail.com, Fri Feb 1, 2013

I was looking into Rent2Own but from the looks of it, it's not worth the investment. I'm 23yrs old renting a room in a strangers house. I want to own my own place. I dont make enough to save for a large down payment. But, can I still own a home?

Help the community by answering this question:

+ web reference
Web reference:

Answers

8
Joseph J. Mi…, Agent, Coral Springs, FL
Fri Feb 1, 2013
Here's the truth. Odds are very low you will get an offer accepted. Your price range will be so low you will be competing with all cash buyers. How can financing with all the contingencies compete with cash? Try HUD or Homepath. Either way your first step should be to save some cash and get a better paying job. Home ownership can be a nightmare if you are not fully prepared.
1 vote
Lew Naylor, Agent, Fort Lauderdale, FL
Fri Feb 1, 2013
Your situation is not uncommon. Give me a a call or email me when we can speak to discuss your options.

Lew Naylor
954-682-6313
Lew@LewNaylor.com
0 votes
Lynne Knapp, , Fort Lauderdale, FL
Fri Feb 1, 2013
Hi Mzlocqz89@gmail.com,

Per your question on Trulia > I have a spotless rental history, "minimum wage" job, average credit, and no down payment. I'm tired of renting. Is it possible for me to own? I was looking into Rent2Own but from the looks of it, it's not worth the investment. I'm 23yrs old renting a room in a strangers house. I want to own my own place. I dont make enough to save for a large down payment. But, can I still own a home?

Contact me 'Lynne Knapp' (954) 647-5335 Cellular, or email me the best number and time to call you to chat!

Lynne Knapp, Realtor
ReMax Consultants Realty 1
Ft Lauderdale FL
LynneKnapp@aol.com
http://LynneKnapp.com
http://LynneKnapp.ReMax.com
Web Reference:  http://LynneKnapp.ReMax.com
0 votes
Stephen McRo…, Mortgage Broker Or Lender, Tampa, FL
Fri Feb 1, 2013
-
You need to BUY NOW! Do whatever you can, whatever it takes to save and/or get a gift for down payment and BUY NOW!!!

Prices are going UP at a predicted 6% in 2013...or maybe more…in South Florida as there’s an avalanche of buyers all over the country and all over the world that are getting off the fence and jumping in the market to buy up Florida Property!

Waiting can only mean higher prices!

EXAMPLES:
$150,000 property today can cost up to $160,000 in 12 mo!
$200,000 property today can cost up to $212,000 in 12 mo!
$300,000 property today can cost up to $320,000 in 12 mo!

See the 97% Loan Program with No PMI at http://www.pro.option.com and contact me today for a payment and out of pocket money required


Steve McRory
Pro Option Mortgage/ Florida
steve@pro-option.com
http://WWW.PRO-OPTION.COM
Ph: 888 662 4404

#204296

Prior Service U.S. Marine Corps
==
0 votes
stephen webb…, Agent, Kirkland, WA
Fri Feb 1, 2013
Good Morning

First find a reliable eperienced ethical loan officer in your area. Important the lender and loan officer you choose have experience and offer the loans and assistance for first time home buyers. Also check out the assistance your state offers. Be sure that the information you rely on comes from a knowledgable source. Check out Your-Road-Home.com. You will find articles that will serve; Consutation Interviewing Loan Officers, Grants and Assistance for First Time Home Buyers, and check out article #8 and you will find a list of links to assistance in your state. The articles are numbered to help you read them in an order that will clarify a specific step by step process.
Read the financing section, check out your state, than interview loan officers. If you cannot buy now a good loan officer will lay out a timeline for you that will be the shortest route to your home.
Go after it! Dont let anyone discourage you will soon we living in your own home. Stephen Webber
0 votes
Michael Sans…, Agent, Fort Lauderdale, FL
Fri Feb 1, 2013
There is always the possibility of an FHA loan with a minimal down payment if the property you purchase can meet FHA inspection/appraisal standards (i.e. no violations, open permits, etc).
0 votes
Ann Ryan, Agent, Doral, FL
Fri Feb 1, 2013
Theoretically that minimum wage job could qualify you for a very small mortgage. The problem is that right now, rents are so high compared to buying properties that investors are buying up all the cheap properties. So sadly, I recommend you keep renting. Also, see what you can do to move up from minimum wage - hard right now, but worth trying.
0 votes
Ron Thomas, Agent, Fresno, CA
Fri Feb 1, 2013
Make a PLAN: say, a savings account with $100 a month.
Give up Pizza, Movies and CD's; the house is more important!
Don't make any major purchases.
Get your Credit in order.
In 2 years, or less, you could qualify.
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more