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Home Buying in Princeton : Real Estate Advice

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  • Home Buying4
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Activity 4
Wed Nov 9, 2016
Kathy Burgreen answered:
There are 2 huge mistakes: 1. You did things backwards. You should have secured the financing first, then look at homes. 2. The seller screwed up by not verifying that you were qualified.

As for you finding a lender that will finance your new home, understand that lenders need a guarantee of income for the next 3 years and a guarantee that you will pay the mortgage loan on time every month. So as a sub contractor, this tells lenders that your job is not permanent and since it's temporary why should they loan you money? What will happen when your USPS contract ends? How will you pay the loan on time? Lenders don't know if you will be able to get another job making the same or better salary.

Like I said, you screwed up. Try a hard money lender however, that will cost you greatly with high interest rates and high fees.
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Wed Sep 24, 2014
Judy Surface answered:
I believe it is possible for you to buy a home without a down payment if you qualify for a USDA home loan. Very little cash is required but to the best of my knowledge you must meet income specifications and the home being purchased must be approved by USDA. You would need to ask your lender about this type of home loan in order to find out if you qualify. ... more
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Mon Aug 22, 2011
Shane Milne answered:
We offer FHA financing in West Virginia, I'd be happy to answer your questions & review your situation to determine if you could qualify for FHA financing, or if there are other options you may want to consider as well.

http://www.hud.gov/ll/code/llslcrit.cfm is HUD's FHA approved lender search tool. It doesn't list anything for Princeton, WV. However it only lists lenders, not mortgage brokers, so there could be a mortgage broker in Princeton who is approved to do FHA loans through a mortgage lender located outside of the area.

Shane Milne | Loan Officer in Orange County, CA | NMLS #81195
Direct local #'s: 949-273-4161 or 646-257-4842
Lending in all 50 states, all types of mortgages
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Wed Jan 27, 2010
Elisha Hazelwood answered:
If we're thinking of the same home, it will be on the market in the up coming months. I can check into it further if you think it may be something you're interested in.

Elisha Hazelwood ... more
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