 Is it a stupid idea to slowly start buying small things for your future home to save for when you buy it? |
| My guy and I are starting out together with a little bit, but we would like to soon get a home together, and I have always wondered if starting my own little hopechest would bve a good idea, getting ... |
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 Someone please answer? |
| i have a question about a co-signer? I am trying to get a apartment but i need a co-signer. Does the co-signer have to pay any fees in order to be a co-signer? I have a lot of money saved up to pay ... |
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 Is This A Scam?? |
the following answer came back in response to an apt rental query. Tell me what you think..would YOU take this guy up on his offer?
Hi,
My name is William James.I am in my ... |
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 Sell Real Estate? |
I'm looking to Leave my change careers and sell Real Estate. Is is true about the earning potential?
Additional Details
I live the NY, NJ, CT area.... |
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 Can the HOA make me change my the color of my house? |
| A couple of years ago the HOA gave me their approval to change the color of my house. They have picked new colors and won't let me do any touch ups. They want me to paint my house a color on ... |
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 Breaking a lease? |
| My daughter recently signed a year lease with her best friend, after living there for 3 days the friend moved out, my daughter ran an ad and found a roommate after a month, now the friend is suing my ... |
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 Can theses two credit scores get into a house? |
| 656 and 660?......Can we get a loan?.How much of a loan can we get?... |
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 My electric bill, Please advice? |
| HI we recently got our electric bill and it is 3 times from the normal, its 350, for 2 months, is usually 150. Our hot water leaks and the landlord is taking forever to fix it, nobody really knows ... |
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 Why should I rent or buy my first home? |
| I'm 27 and I just gotten married. We are looking into getting a house now. The only problem is that I am in the Army and stationed in Italy while my wife is located in Texas. Once I leave Italy I... |
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 How can I find a cheap apartment in Washington DC? I'm planning to relocate from Detroit.I? |
| I can only afford to spend about 300 dollars the first month, more after that *once I get paid*. I'm leaving Detroit within the next month *hopefully* and have to somehow arrange housing amidst ... |
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 Would a bank make payment plans for me if i owe ? |
for overdrafting fees i want to know so the y dont take my whole check cuz i need the money to pay the rents holla back anyone soon!!
Additional Details
thank ya'll for helping so ... |
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 If I complete a rental application and get approved, does that mean I am now bound the apartment? |
| I am now waiting on more paperwork to fill out but I would like to know if this application means I've signed my life to this apartment and there's no turning back. Currently, I am waiting ... |
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 How to handle a Sect 8 tenant who is angry and irrational? |
| A Sect 8 tenant receiving disability moved into my unit recently. This tenant demanded to move in early before rent check was received, called at 11:30 am that night, made a list of 50 or more items ... |
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daughter | How do I buy a home with no money down being a first time buyer? |
how do I get started and where do I go first? |
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boilerette72
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If you have excellent credit, you'll be able to do an 80/20 loan, where you borrow 80% on the first loan and 20% on the second. SOME credit unions offer no-money-down Conforming mortgages (i.e. Navy Federal Credit Union), but you pay a higher funding fee if you don't put 3% down.
The people in crisis right now are not necessarily the ones who financed 100%, they're the ones who got the ARMs. Avoid the ARM unless it's REALLY long (i.e. 7 years or more).
Now financing 100% can be a little risky if you plan on moving in a couple years because the value can drop and you may have to take money to closing when you sell (instead of taking money to closing when you buy).
We financed ours 100%. We had the cash to put down 20% and I thank God every day we didn't... because that 20% has grown so much in the savings account, and would have plummeted if it were in our home's equity.
There's nothing wrong with 100% financing, just make sure you don't get an ARM, and that you borrow within your means, and you have plenty of reserves. |
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goz1111
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Good luck on trying to get a non-conforming loan at this period of time; it’s those loans that are a huge reason why the investment firms are collapsing |
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taya919
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I just purchased my home in June and I didn't have much for a down payment. I only had about $3000 for down payment and closing costs. I did my research and found programs that are geared towards low to middle income people. They are out there. The only thing I suggest you do, is start budgeting, pay off as much debt as you can, and you need to realize that buying is different from renting. Even though my mortgage is almost the same as my old rent payments, I'm putting out more money because I have to budget for repairs to my house, increased utilities and improvements for my home. Don't let bitter people discourage you from your dreams. |
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Raybay
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Please watch the news... it is people like you who have caused the market to crash. Without a down payment how are you going to afford to fix the roof when it leaks or repair the toiled when it overflows and floods your basement? Honestly, I'm so sick of people thinking they can be irresponsible with their money, have nothing in the bank, and feel entitled to buy a house.
Credit is tight, without an amazing credit score of 740+ you'll have to put down at least 10%. |
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enoriverbend
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Before you go there, you may want to ask yourself if you are really ready to buy a house if you cannot assemble any down payment at all. This may disappoint you, but if your budget is so tight that you cannot save anything, then by buying a house and acquiring an additional debt, you are just getting closer to the financial cliff.
And with zero savings you have zero margin for error. Any unanticipated financial expense may just send you over the cliff.
That's one primary reason that so many zero-down mortgages are in trouble.
Instead, use this as a motivation to examine your spending patterns compared to your income, and find ways to save up for a down payment. You'll be better off.
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Laurie the Realtor
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There are a few government programs that loan money to people to use as their downpayment. I'm not sure what city you are in, but you definately want to check in about that with a mortgage lender. Other than that, there are no 100% loans anymore unless you happen to bank with State Employees Credit Union. |
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erroronpage1
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Talk to your friendly neighborhood mortgage rep |
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lolly
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If you're not putting money down, what are you buying? You're buying a mortgage payment that is all interest and no principle. Which is why these lenders are now out of business.
Rent until you can save a downpayment and actually purchase something. |
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Ed Atun
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In rural areas, USDA loans are still being originated with no money down. Some new home builders own their own mortgage companies and are willing to loan with little or no down payment. On a regular mortgage, you will pay mortgage insurance if you put less than 20% down. Call a local realty agent and ask for a recommendation. Also go to your local bank to get a comparison.. |
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MadMan
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You will not be able to. |
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