formerafroman08
 |
It really depends what exactly your scenario is. The amount of money you can put down, your employment, credit and other factors. Recently it has been tough for people with less than stellar credit to qualify for loans; however in the last week or so the guidelines have loosened up. You can email me at kevan517@hotmail.com if you have any more questions or with your whole scenario; I;ll be happy to help.
Kevan |
Insensitively Honest
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Talk to those who have learned from buying , a bank will talk you into a loan you can not afford , and they do not care about you , they want that money
I will say this , when you buy , put down at least 20-25% and do a 15 year fixed rate do no more than 20-25% of your net income ( bring home ) do not let them hold funds in escrow for taxes ,and insurance , and do not let them pick your insurance company
They will talk you in to a 30 year fixed , it costs you about 100 grand extra or more in interst and they make more so of course they will want you to do that ..they will tell you to go about 30-35 % of your gross income too , because the more you pay the more the more they make , and if you default they can re sell it to another person and make it all over again ...
Lenders ,and Agents do not care about you , or if you can actually afford the place , after they get your up front money , if you lose the home , they get another buyer and get the same fee's up front again , plus the payments you could not make ,
I am not an agent , I have person experience, and managed to do it my way , and I am now 38 with no house payments ,and no other debt , except for monthy expenses , such as power , water ,cable ,. etc. I owe no creditors ..I am Free ...I will offer my opinion and you can take it or not .. Just do not get caught in the credit trap , saving money builds wealth , credit builds debt.. |
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