I've never owned or rented a home what do i have to do to buy or rent one?

Asked by Pop_0333, Winnemucca, NV Wed Aug 25, 2010

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Jeanne Feeni…, Agent, Basking Ridge, NJ
Fri Aug 27, 2010
Hi there, a good agent will be a great help to you - particularly as a first time buyer or renter, you will benefit from the guidance of a patient and knowledgeable agent. Whether you rent or buy, your credit will greatly influence your chances for success. Your agent can refer you to a good banker - who can run your credit and advise on how much you can afford on the buyer side.

With a great agent and great mortgage rep you should be well on your way.

Good luck!
Jeanne Feenick
Unwavering Commitment to Service
Web Reference:  http://www.feenick.com
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Linda S. Cef…, Agent, Franklin, WI
Thu Aug 26, 2010
Ask friends, family and co-workers if they have purchased and who they used. It is important that you find someone who is patient in the first-time home buying process. Then insist that you get pre-approved. This will leave nothing to chance and prevent you from having to go through much grief which often happens just prior to closing.

When shopping for a mortgage company or bank, make sure you do it during a two week period. If you extend beyond that time period, such as credit checks, it may affect your credit rating.

Good credit and debt to income ratio is key in buying or renting these days. Once you have been approved for either, do not make any late payments and do not make any big purchases.

If you find, after meeting with the first lender, that your credit scores are not so favorable, he/she will be able to advise you as to how to go forward. I have seen credit scores repaired in as little as six months. Of course, this greatly depends on the score and they type of credit issues that exist.

Hope this was helpful.

Web Reference:  http://www.lindacefalu.com
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Anna Hershey, , 92037
Wed Aug 25, 2010
Before you start, get a comprehensive credit report, this will save you a lot of time, and prevent being turned down as renter or buyer. With report in hand hire a real estate agent, describe your needs and wishes, and the agent will search for the best property within your price range. Set a realistic goal, some TLC can always improve a property. Good luck.
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