 Is it possible for my grandparents to take a loan out to buy me a house if they already own two houses? |
| I found a really sweet deal on a condo in my area at an unheard of price, the only thing is my credit is horrible so there is no way I can get a home loan on my own! I do however make enough money ... |
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 How to buy the house that's not for sale? |
| There's a house I really want to buy because of it's location and I really want to buy it. But the owner is not planning on selling it. Anybody know a good approach so I can buy it anyway?... |
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 How much do you need to put down? |
looking into buying a house. First time buyers. How much would we need to put down?
Dont know much bout real estate so sorry if this sounds stupid
Additional Details
i live in new ... |
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 Then what is the perfect mortgage to have? |
Answer without out the bull, because of all differant situation.
Like every body is not the same.... |
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| My boyfriend and I have been together for 3 years and plan to marry within the next 2. We are currently renting an one bedroom apartment for $500 a month. We found a house we like that is newly ... |
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| My husband and I are looking to buy a house. We took first time homebuyers classes, made out a budget for what we can afford, checked our credit scores, and paid down our only credit card by a ... |
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| my mom got an offer to buy a house for 89,000 dollars it has 4 rooms a living room a dinig room 2 restrooms 2 garages a pool and a jacuzzi. We have a house with 5 rooms right now we got it for 84,000 ... |
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| My question is Well Fargo will refiance at no cost to me. I have 8% interest now and they fiance at 6.7%. Do they start out taking the majorty of the payment as interest. Will I come out the same or ... |
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 If i am making $30,000 a year, and wanted to get an apartment at 475 a month, would i be able to do it? |
City : Memphis
150 Dollar Insuance Payments a month
50 Dollar Cell Phone Bill
No Idea what utilities are
But i work week on week off so they wouldnt be too much
Any ... |
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 My Fiance and I are going to start looking for a house after the first of the year.? |
| I have no idea on how to buy a house. We both have excellent credit, and are not in much debt (with the exceptipion of my car). Our yearly income's combined ranges between $70-75 thousand. My ... |
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 1st Time Home Buyer Getting Cold Feet!? |
So I am getting ready to buy my first home and I am excited. The more I think about it the more I worry about me affording my mortgage payment.
Details -- I make 71,000 a year and bring ... |
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 So confused on buying a house!!!? |
| We don't know what to do...where to start. Anybody have any "learned from" experiences they wanna share? Do's, don'ts, watch out fors...any piece of info will be helpful.... |
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 When is the right time to increase your tenants rent? |
| I currently have tenants renting my house. They would of been in the property for a year in January 2008. Is it acceptable to increase the rent by 5% in January?. I have a mortgage on the property.... |
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| Do we have to give key to the landlord if we change the locks? My landlord comes into my house and looks through personal information and i can tell because when the landlord comes in she moves ... |
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 Going to court over back rent.. will we win?? |
| When we first moved into this house, our shower wouldn't drain. It would overflow before we even got out of the shower so we figured it was clogged. Well, we told the landlord and she bought ... |
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 Buying a house question? |
| if i earn just over 13 grand a year is there any realistic chance i could get a half decent mortage?... |
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justme | Am I stupid...buying a house with bad credit question.? |
I have been living in a house..lease purchase option for two years. I officially have 11000 down due to part of my rent going toward purchase. problem is..i havent been able to increase my credit score. I finally found someone to give me the load but heres the stipulation......
-house appraised for 181000.00
-with my down payment and owners paying closing costs my loan would only be for 153000.00
-9% interest
-adjustable mortgage rate
I searched and searched and that is the only place that will give me a loan with my 550 credit score. I have to buy this month or move.
Am i stupid for agreeing to such high interest and an AMR or would i be stupid for passing up a house that appraised for 181 and only getting loan for 153??? |
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Gary H
 |
Don't lose hope if you're looking to buy a home. There are so many different ways to fund a home now, just about anyone with any kind of credit can get into a home, regardless of credit situation.
Of course, some will cost you more money in the long run, but a home it's still one of the best investments that you can make, so, in many cases, it's worth it, especially for the first year of ownership.
You should shop around, and ask different lenders what kind of programs they have, and if they can help. Try to find a lender that specializes in bad credit mortgages. You can find some bad credit mortgage lenders listed on this page on and off:
http://www.axalda.info/bad-credit-mortgage.html |
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GEE-GEE
 |
If you ever want to buy a house you should do it now. You would be losing your down payment plus the owners are willing to pay the closing costs. You also wont have to move. That only can be pretty expensive. And you wont have to change your address for your bills etc.
9% sounds bad, but trust me, I have been in the mortgage industry for over 15 years, and with your credit score you are lucky to get a loan at all. You can go ahead and refinance it after a year so try to build your credit in the next year. What ever you do, don't be late on your mortgage. That will just make things worst. The difference between a 9% loan and a 7% loans which most people get will only be like $150 a month. Its not bad for someone in your situation.
Just take it, build your credit, and refinance in a year or so. |
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insureman613
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I think that if you look a bit more, you can find a lower rate then 9%. It is nice to get a mortgage for less than the appraised value, but a house is worth what someone is willing to pay for it, and not what the appraiser said.
I would try the poor credit section of www.bestmortgageanswers.info and try to get a better rate. |
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Judy1
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The 9% is high but not unreasonable with your credit score. The problem is the ARM. You have to look at how high the interest can go and what that will do to your payment, and figure out if you can afford the higher payments. They could be MUCH higher than your initial payment. It won't help you any if you buy the house now, then lose it to foreclosure three years from now. Be VERY cautious on taking out an adjustable rate mortgage. Unless you can raise your score substantially, you wouldn't be able to refinance into a fixed rate, so your payments WILL go up, probably a lot.
Good luck. |
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Kelley
 |
Sounds like a good deal ... but I would find a rate that is looked in and not be on a yo-yo when it comes to that part of it.
But shop around some more and see what you get. |
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Glen J
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Are you in Australia? if so we can help with your finance.
www.apofinance.com.au |
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Meldamor
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I would say go for it. Only because in a year you can refinance. That is what we did with our 80/20 loan. I dont know about that adjustable mortgage though, that sounds dangerous. And if all else fails than sell it for what its worth. |
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Zeltar
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The stupidity started when you didn't pay your bills on time and let your credit rating slip to 550. It continued when you had two years to build your credit back up and you failed to do so.
Only you know if this is a good deal or not. If you walk, you're leaving equity on the table. But, if you can't afford to maintain it, it's better to walk. You don't have enough equity to make money from an immediate sale as you'll have realtor fees. If you could pay your 9% interest for 6 months, you'll build your credit score and can try refinancing. This assumes you take care of the other credit issues that are affecting your score. |
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Officer Karma
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$181,000??? Where are you, Uraguay??? |
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