I have poor credit and a small down pmt...I would be a first time home buyer...I have limited income until I

Asked by Em1958, Grinnell, IA Fri Apr 10, 2009

am out of college with my AA in Computer Science...banks won't approve me to buy a home...how do I get around this? I am in small town Iowa...any suggestions on who could help me?

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Dana Schuster, Agent, Slidell, LA
Fri Apr 10, 2009
In order to finance through a bank or mortgage lender you would need a 2 yr. work history plus at least a 3.5% down payment. your income would need to be sufficient to make the mortgage payments plus insurance,taxes & maintenance on the property. I suggest you wait until you graduate,establish yourself in a job & have improved your credit. You are not in a position to purchase now,but you can make this happen in a few years. Good luck!
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