I need help!! I'm looking to own a 3bdrm townhome in a family friendly area.

Asked by Leshay P, Smyrna, GA Tue Nov 5, 2013

I have a credit score of 523. I make 50k a yr. I have about 30k in student loans. I don't have any credit cards. Besides the loans, I have a car note which is always paid on time and I have 3 accounts of debt that totals to less than $400 for medical and a cable bill balance. I pay $1100 a month for rent and I believe I could be paying much less to own. What can I do to get in a position to own?

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Sandra Eliot’s answer
Sandra Eliot, Agent, Tustin, CA
Wed Nov 6, 2013
First step is to speak with a couple lenders. You need to find out what amount a lender would approve you for or what you need to do to get approved. For better rates they will be able to advise you on how to raise your fico scores.
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Jeff Jackson, Agent, Atlanta, GA
Wed Nov 6, 2013
I would be happy to discuss this with you!

Jeff Jackson
Prudential Georgia Realty
0 votes
Angelique Lo…, Agent, Atlanta, GA
Wed Nov 6, 2013
Good Morning Leshay P. I can surly help you get into your 3 bdrm. No problem. I have a few lenders i work exclusively with and they can pretty much work with a 500+ score or better. You must first see a lender to get qualified, stop guessing what you can be approved for and find out. I can and want to help you.

Call me!
Angelique M. Graham
Keller Williams Realty Intown Atlanta
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Lorraine C C…, Agent, Atlanta, GA
Wed Nov 6, 2013
The question may be how much are you planning to spend and which schools are your target market, then as you visit the neighborhoods of town homes in those areas you with your Realtors assistance make some additional discovery of children and family profiles for the individual neighborhoods. If you would like to work with an expert Realtor give me a call 678-296-2099
For all financial questions you need to work with a good loan officer I will give you an excellent start point if you are serious about buying and the steps to improve your credit if necessary
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Jerri Sims, Agent, Clayton, NC
Wed Nov 6, 2013
What everyone stated is the best answer. You have to reach out to a lender. Andy at New Star Mortgage 404-346-6565 or Belinda at Academy 770-231-3114 can help you get on the right track. Once they get you ready you will want to locate a Realtor® to assist you in the home buying process. I'd love to help if you are not already working with someone.
Jerri Sims
First Choice Realty Group of Georgia
0 votes
Jeffrey K. C…, Agent, Hiram, GA
Wed Nov 6, 2013

What you seek is within your grasp. However we will have to work to get your credit score up to an acceptable level for a lender. I can help you there as i work with lenders who will do this for buyers. Keep paying your bills on time. You can easily own for less that what you are paying now, easily. I will be more than happy to discuss with you options and to have one of my lenders contact you. My name is jeff claeson and i can be reached at 4048432500.
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Jimmy Payne, Agent, Alpharetta, GA
Tue Nov 5, 2013
You have one of your credit scores, what are the other two? Lenders look at all three and use the middle score. If you do not have the access, contact a lender to have them check all three and provide you with guidance as far as what to work on first to raise your score. You may be in a better position than you think, the other 2 scores may be high enough to get you a loan. Tina Grady at Wells Fargo is a great resource, she can lead you in the right direction to get you a loan. Let me know if you would like to get in touch with her.
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John Juarez, Agent, Fremont, CA
Tue Nov 5, 2013
Hello, Leshay,

I think you stand a good chance of being a homeowner if you make that your priority and work towards it. You need to get your credit score up and save money for your down payment. Keep paying your obligations on time and do your best to reduce them.

You should contact a local Realtor who can put you together with an experienced local mortgage professional. You can form your team to work for your home ownership.

Good luck.
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Edith Wallace, , Atlanta, GA
Tue Nov 5, 2013
Hi Lashay,

Yes it is possible to own. You may need to do a little work in increasing your score but it is possible. This is the first step because you are inquiring "how to do it". Give me a call/email and I will put you in touch with a lender that can assist you in getting "purchase ready".

Best Regards,

Edith Wallace
1st Class Realty Professionals
Fulfilling Dreams & Enriching Lives, One Sale at a Time
0 votes
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