WHTA DO I NEED TO CUALIFIED FOR A HOUSE

Asked by Jose, Las Vegas, NV Fri Feb 20, 2009

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This question is about this property: http://www.trulia.com/property/1073944230-13455-Cora-Pl-More…

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Dana Schuster, Agent, Slidell, LA
Fri Feb 20, 2009
You will need a steady income,good credit,a 2 yr. work history and a 20% down payment for a conventional loan. with this house,your monthly payment (including taxes & insurance) would be about $410.99 . As a first time home buyer,you may be eligible for an FHA loan with 3.5% down. FHA is not credit driven and your monthly payment would be about $511.62. your first step is to consult a reputable local lender to find out if you can qualify. Step 2 would be to contact a local agent who can help you through the purchase process.

Good luck!
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Dallas Texas, Agent, Dallas, TN
Fri Feb 20, 2009
Contact a mortgage broker who will provide you required info. qualified for a loan.

Most loan officer will need:
Proof of employment 2 more years
Financial records
SSN
Complete their application most is on line

Upon brokers requirement will detemine amount of home you qualify for, provide you downpayment for approx. 3.5% or more.

Lender will publish a letter for selected buyers agent submit with sales offer presented.

If you are leasing a property best to wait approx. 60 -75 days prior lease expiring to start loan process search for a home. Allow 30 - 45 days point of executed contract close on a home

Owning a home you receive annual tax benefits, interest rates are low, some great deals on market.
Web Reference:  http://www.lynn911.com
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