 Looking for a hme loan.? |
| trying to get a 200k loan my credit score is 615, with 10% down they offered me a 9% interest rate, if i double the down payment to 20% will i get a better rate? what should i expect?... |
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 I live in an apartment and other people are parking in my space. What can I do to make them stop? |
| I live on the end of a row of apartments. There is enough room in front of each apt. to park 2 cars. Even though I only have 1 vehicle, the end apt. is by the dumpster and there is not alot of room ... |
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 What is the best way to advertise the sale of my house to people out of state? |
| I live in FL and want to advertise my house to people in other states. I have it on Realtor.com, but has anyone found any better ways to advertise real estate?... |
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 Why are some homeowners so snobby about people who rent ? |
| I've gone to various gatherings and heard the people who endlessly brag about their houses, comparing each others houses...and they also tend to talk about those of us who rent though we are 2d ... |
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 My apartment complex owes us $3000 dollars but changed management and now won't pay. Is this legal? |
| We paid for something that was $3000 and got it in writing that our apartment complex would pay us back. The new manager says that since the old management made the deal, they don't owe us.... |
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 My fiance and i are trying to get an apartment but cant afford the deposit.? |
does anyone know of any programs that would help us pay our deposits so that we can get our own place?
Additional Details
we have no choice to move cuz right now we are staying with ... |
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 I have a tenant that refuses to move out we have an oral agreement I asked her to move25 days ago ? |
| she is a friend my son lost his home due to forclosure and has 4 children and needs to move into my rental because its all he can afford what are my ... |
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 Do I have to allow my landlord to do this? ? |
| the apt i live in is in the process of being sold. so my landlord gives potential buyers tours of the apt building. my apt is close to the entrance, and one of the better looking units. so around 5 ... |
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 Inherited a home and want a person living there to leave? |
| Hi, I inherited a home in Nevada and I would like to have the person living there leave. He has been living in the home for about 10 years and only pays rent off and on. There has Never been a ... |
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 Can i get out of a contract to sell by taking it off the market, if so how long before i can put it back on? |
| i had dealt with a realtor on 2 sells and one buy of a home, we just inherited a home and wanted to sell it, we contacted our old realtor, she had her husband give us the contract, my husband was in ... |
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 How do I deal with difficult renters? |
They moved in 3 days ago and already have a list of problems.
I have addressed some of their concerns like; I changed the locks and put new smoke detectors in.
They are complaining that ... |
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 Can i buy a home with horrible credit and 50 percent down? |
| I live ina very affordable area, i have 50k to put down on a 100k home, could i do this with horrible credit?... |
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 Buying a house for sale by owner? |
| What types of things do I need to look out for when buying from an owner and how much should they know? Fees involved or anything like that ussually?... |
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 Is it possible to still get a mortgage even though i am on a debt management plan? |
| I have been on this plan for about two years and have about 5 years to go, and i would really like to buy my own home instead of renting like i am doing. I have not defaulted on these payments so far ... |
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| If i let my home go into foreclosure can i buy another home ? |
| can i buy a home while im in a home thats going into foreclosure but still modifying my existing home and get a good deal on my new home that i can afford with bad credit and get a good rate?... |
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 My wife decided to sell our house, but I think it is a bad idea. She is going ahead.? |
| We are joint owners. I was the one who paid for it, and sole earner. I don't want this to go on the market and I told the broker my wife contacted that we would not sell. I have just heard ... |
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øº°DK°ºø | I'm a first time home buyer, what do I need to know? |
Im 22 and my husband is 25. We both work f/t and I go to school. We want to buy a house because we calculated how much we have thrown away on rent. We havnt found a house yet , but I want all the Info I can get .. I'm in L.A. so my question is what do I need to know? Any tips, pointers, suggestions?? Where do I start? How long does the process take? Is there any loopholes I can use as a first time buyer? |
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aecruiser
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Don't every fall into the trap of "My rent costs $1,000 a month so I can afford a mortgage payment of the same amount". Budget for property taxes, homeowner's insurance, PMI if you don't put down 20% and also 1% of the home's value in repairs and maintenance per year. I would limit the total mortgage payment to 1/4 of your monthly take home pay and save up at least 20% for a down payment. Also, I would become debt free before taking on a mortgage.
You say you have been "wasting" money on rent but do you know how many people right now wish that they would have "wasted" money on rent in this past year alone. People who got stupid mortgages and bought too much house. Now they are in the hole and owe more on their house that what it's worth. They are the ones who truly wasted money.
Be patient with this whole thing. I am young as well and understand how everyone says "you gotta get a house, you gotta get a house, renting is throwing money down a rathole, you gotta get a house and everything will be okay". In reality, this is not true for many people. I was patient and it paid off but I know many other people who have horror stories.
Be patient and get yourself financially prepared. You will be glad you did!
Hope this helps! |
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Gregorio
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You can read this: http://wefixrates.com/Home_Loans_101.htm
It will give you a good amount of information about buying a home. |
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G.T. Hildebrand
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The first thing you need is a good real estate agent. Find one that knows the market in your area and is willing to shop for a good deal for you. I've found in the past that big realty companies won't do this. Find a one or two person company and sit down with them and explain where you are financially and what you would like. Then let them help you. A good agent will make it almost painless :). |
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Lorenzo Steed
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I frankly don't know how ordinary people can afford to buy a home in LA, but otherwise the rules are pretty much the same as anywhere.
First, second and third rules are, as always, LOCATION, LOCATION, LOCATION.
Fourth rule: only buy what you can afford. Late mortgage payments are the fast track to bad credit.
Fifth rule: DO NOT (that is DO NOT EVER) let either a seller or a Realtor (even you own) know how much you LOVE a house. Save your excitement for when you are alone.
That puts you in a weak bargaining position.
Sixth: Remember ! EVERYTHING IS NEGOTIABLE.
Seven : ask a lot of questions.
There are a lot more things to know, but stay cool, stay focused. Good luck. |
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r2mm
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Don't trust the mortgage company when they tell you you can afford 40% of your gross earnings in mortgage payments. They will get you into a bigger mortgage than you can afford because they get paid a percentage of the loan amount. Do your own calculations and determine how much you can afford for a mortgage. Remember to include property taxes and insurance in the amount. If you are not currently paying all your utilities yourself, include utility costs.
Put as much into a downpayment as you can afford, without wiping out your savings.
Pay close attention to terms of adjustable and balloon mortgages. I've seen too many people lose their home because their mortgage payment went up after the initial low interest rate expired. Be sure you can afford the larger payment on what you make now. Remember to factor in some cushion if you should start a family - planned or otherwise. |
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Lady Luck
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Do Not get one of those mortgages called "Subprime Mortages" (I think thats what they are called)...Thats the reason for the great Foreclosure Crisis we are in right now in America. Millions of hard working, middle class Americans are losing their homes every day, and its terrible.
Thats the loan where your mortgage rate and mortgage payments are very low at the beginning, then in 3 years, the mortgate rate shoots up, then your mortgate gets so high that you can no longer afford the payments. Do Not get a loan like that. Dont get in over your head. If you cant afford the house, dont buy it! Make sure you have 6 months of mortgage payments saved up in case you or your husband loses your job...Home onwership is very serious, so make sure you can afford that home, along with the furniture, utlities, groceries, car payments, etc...Good Luck |
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Greg
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Well, congrats on thinking about buying a home! You've made a great step right there....but let me offer a little different perspectives.
When you take out a loan to buy a home, you no longer throw money away on rent. Instead, you throw money away on interest. In the first several years, 80 or 90% of your mortgage payment goes to interest payments and only around 10 - 20% toward principle. You'll also start throwing money away on maintenance (your current place probably includes it), taxes, and insurance.
You'll also throw a lot of money away when you get a loan because you'll pay around $2000 - $5000 (or even more) in various fees, lenders title insurance, owners title insurance, etc when you close on your loan.
In short, it's very expensive buying a house compared to renting. On the other hand, it's a lot more fun to own a house and have a place that you call your own and can upgrade and decorate and not have to worry about moving anytime in the near future.
Don't get me wrong about buying a house, it's a lot of fun and I used to be a homeowner and will be on in the future. But also be warned that it's expensive and often far more expensive than renting. |
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nigyar_98
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Here are some house hunting tips, when to buy and when not to buy, etc.
http://on-real-estate.blogspot.com/search/label/Purchase |
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shaluv7
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congratulations! i too am in the market as a first time home buyer. one thing i would add to all this great advise is that there are many programs out there for first time home buyers that will "hold your hand" through the process and educate you so that you are not taken advantage of. also, there are financial incentives out there to be aware of. depending on your household income, you may even be eligible for grants, lower interest rates and even help with your closing costs.
good luck! |
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