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Home Buying in Independence : Real Estate Advice

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  • Home Buying40
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Activity 43
Thu Dec 14, 2017
Kathy Burgreen answered:
You can try going thru your county, city or state and find out if there are down payment assistance programs or grants for first time home buyers. I believe they exist in all 50 states, however, requirements vary based on income, credit and whether you need to take a home buyer class. Also the down payment amounts vary depending on your state, city our county's budget.

Another option for down payment is family members who can gift you cash for a down payment. The family member will need to complete a gift letter stating the money is not a loan. Finally, there is your retirement savings account. I do not recommend withdrawing from your retirement account but it is a source for down payment. You will pay a penalty and income taxes on any amount withdrawn.

The only 2 options for $0 down payment is if you served in the military and are eligible for a VA loan or if you are buying a rural property and eligible for the USDA loan.
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Mon Sep 18, 2017
Crystal_chappell86 asked:
Fri May 5, 2017
Kathykcmo asked:
link just t I went through the process to "claim" my home. The email said I could now update the facts (which are not correct ie # of bdrms), but the link just takes me back to…
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Sat Apr 22, 2017
Mimi1982 asked:
I am looking at houses between $44,000-55,000. What happens at a closing?
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Sun Apr 17, 2016
Echemterr asked:
Fri Jul 31, 2015
answered:
not quite sure what your question is there. Loans are based on the qualifications of the PERSON. The home is just collateral for the loan
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Thu Jan 29, 2015
answered:
Hi Tammy,

Thank you for your service/sacrifice.

You really want to look into using your VA entitlement instead of rent to own.

I can do VA loans down to a 580 credit score and I have extensive experience with helping people clean up their credit and increasing their scores.

I'm a VA financing expert & would be honored to help you.

Take a look at the recommendations from some of my past clients on my Trulia profile by clicking the link below my phone number.

Please feel free to contact me for more information or help.

John Burke
Senior Mortgage Banker
Lending in ALL 50 states
Great Plains National Bank
(877)228-9069
NMLS# 787231
http://www.trulia.com/profile/john-burke-mortgage-broker-or-lender-austin-tx-993995/reviews
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Tue Oct 14, 2014
Suzanne MacDowell answered:
If I read this correctly, you have not yet purchased the property? It's not clear from your question. I would suggest you speak with an attorney. This is really a legal question, breach of contract, failure to disclose, etc. An attorney is the best person to advise you. ... more
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Sun Jan 19, 2014
Sam McDaniel answered:
Hello Payne05!

The general rule defining a first time homebuyer, is someone who has not held title to a home for the past 3 years. If you have owned a home in the past 3 years there are still loan programs that require minimal investment on a buyers part. For example, the VA loan is 100% financing and can be used several times. And contrary to what many think, FHA loans are not just for first time home buyers and only require a 3.5% down payment. Further that 3.5% down payment can be gifted to you from a family member. And as Susan pointed out in her post, if it has been 3 years there is the Missouri Bond money available. As you can see there are plenty of options, but all do have requirements. Give me a call and I can answer any other questions you might have. 816-507-6891 ... more
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Sun Dec 8, 2013
Josh Barnett answered:
Meet with a local lender and complete the loan application. The lender will then be able to go over the next steps with you.

Josh Barnett, Broker Associate
Metro First Realty of Edmond
www.GetSoldOKC.com
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Tue Sep 3, 2013
Lori answered:
I cant figure out how to ask a question but I will say this in regards to the HUD home I am in the middle of purchasing one and we are stuck with the LEAD BASED PAINT part....Waiting on it to be fixed by HUD and Approved to be fixed...Wondering how long this usually takes for them to fix it??? ... more
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Mon Jul 15, 2013
Andrea Gomez answered:
You can get an FHA loan with under a 600 middle score with some lending institutions but not many. I would recommend finding a broker or service to help you locate a reputable lender that can approve your loan at a decent rate. I have client's who have got approved and received a good rate at The Lenders Network with FHA and VA home loans. If anyone can find you a loan they can! ... more
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Fri May 17, 2013
Tonja Neal answered:
Check your contract, disclosures and things like that. Also, take a look at your inspection report and consult an attorney to see if you have any avenues you can pursue. I truly wish you the best. ... more
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Mon Feb 11, 2013
The Sherri Oaks Team answered:
The current average for DOM in the 64056 zip code is 50 days. This is down from Dec. If you would like additional info, Please feel free to contact me. We here to help!
Sherri Oaks

Reece & Nichols
816-365-8660
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Mon Jan 7, 2013
The Sherri Oaks Team answered:
The average for the year is 88. This is a decrease from last year. The average DOM in 2011 was 96 days. If you would like additional info please feel free to contact.
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Tue Nov 27, 2012
Anna Ellebracht Castelli answered:
There is a 1st time buyer program thru MHDC.....if you qualify they will grant you the 3% of the 3.5% needed for down payment on a fha loan and the rate is only 4% right now. I work with first time buyers all the time, so please call or email me if you would like more info!
Anna 816.220.5633
Email: annaworks4u@yahoo.com
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Tue Nov 13, 2012
Cammy Hinson answered:
I have a very experienced Lender named Ron Yarbrough, he has been in the business for years... I send all my clients to him... here is the contact information, you can even just go online and apply or call him personally...

Ron Yarbrough - CMPS (r) NMLS # 263379
Certified Mortgage Planning Specialist
APPLY ONLINE

913-307-1608 office
913-579-4939 cell
913-982-8605 Right Fax

Tell him I sent you.. Cammy Hinson, 913-279-1673... and give me a call so we can get you set up with a criteria search so you can start looking through houses.. I would be happy to help in any way I can :)
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Wed Oct 17, 2012
Morcos Azer answered:
If your wife is also making most of the money, and qualify for new house loan by herself without counting your income, then today is the best time to buy. If that is the case, make sure to contact your local broker, Mack McCoy.
If that is not the case then follow McCoy advise, and do not do it. Improve your credit first, because that will save you a lot on your mortgage as well as qualify you for higher amount of loan due to qualifying for a better interest rate.
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Thu Oct 4, 2012
Cammy Hinson answered:
There are no longer tax credits.. but yest there are first time home buyer programs.. it is called the Missouri Bond (i.e. MHDC).. it is a .5% down program, the other 3% is a 2nd mortgage, forgivable by the State of MO after 5 years.. I just baught a house through this program myself and closed 3 weeks ago.. feel free to give me a call and I can help get you to a Lender for qualifications and we can start looking at homes. :)

Cammy
913-279-1673
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