2007-01-23 09:51:21 · 4 answers · asked by coco 1 in Business & Finance ➔ Renting & Real Estate
Go to an independent Financial advisor - they should NOT charge for and initial assessment. There are other circumstances that need checking so go to see one in your area. DONT go direct to a bank or building society as they will only show you their own products.
Good luck
2007-01-23 09:56:20 · answer #1 · answered by ? 5 · 0⤊ 0⤋
There are a lot of great programs for first time homebuyers. The low income part, just means that the price of your new home can not be too high. A bigger concern is your credit background and if you have any money saved or have access to gift funds from a relative.
There are even Down Payment assistance programs available.
Also, depending what state/city you live in there are special programs at incredible rates for first time homebuyers. Not all lenders have these types of programs, but if you fit the profile and your state offers them, they are great.
Call your local Countrywide, Bank of America or Wells Fargo and ask about these special programs. If they have them in your area you are in luck.
Good luck,
Greg S.
2007-01-23 10:35:31 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If you are on a low income, you shouldn't need very high of a mortgage.
2007-01-23 10:03:20 · answer #3 · answered by Phoenix, Wise Guru 7 · 0⤊ 0⤋
Yes it can.
It's only my opinion but I wouldn't buy right now - hold out and save.
2007-01-23 09:55:28 · answer #4 · answered by ? 3 · 0⤊ 0⤋