I recently migrated to USA and a friend suggested buying a house with part of money we came with rather than keep spending on rent. My huaband has a job but i'm still unemployed. Any advice?!
2007-02-26 06:17:12 · 6 answers · asked by damsel 1 in Business & Finance ➔ Renting & Real Estate
Assuming you and your husband are here legally you can qualify for a mortgage. (If you are here illegally, go straight to Bank of America) Here is what I just wrote to another person who was asking about mortgages. There are 100% programs available for mortgages today. Contact a couple of mortgage brokerage companies and speak to someone who has at least 10 years experience in this industry. Have them send you a good faith estimate (GFE) and compare the total closing costs as well as the total payment. Watch out for the good faith estimate that does not show all of the charges of the others. Some brokers try and get business by not disclosing "all" of the customary charges. If you are not certain, go to your bank and have them tell you what are the customary and normal charges in your area. DO 'NOT' allow anyone to pull your credit until you have picked the one who you are going to deal with. Every time your credit is pulled your score will go down. Contrary to the stories that some brokers will tell you that all credit pulls in 30 days for the same reason (i.e. a mortgage) will not affect your scores. YES, they will lower your scores. I hope this helps.
2007-02-26 06:26:49 · answer #1 · answered by ? 7 · 0⤊ 0⤋
You need to build a credit history. Begin to buying something by credit, and be on time to make your payments. I suggest you go to a Real Estate place and get the advice at what would be better for you. If you have the money, then go ahead and buy it at once.
2007-02-26 06:24:14 · answer #2 · answered by Jersey girl on Florida. 5 · 0⤊ 0⤋
you're some twelve months early on attempting to purchase a house. pay off the smallest own loan. keep the different funds modern. Take out one visa or MC and use it sparingly, continuously paying in finished. keep it at homestead in a secure place the the remainder of the time. meanwhile, build your fee reductions so which you have a stable down fee and funds for ultimate expenses. you may keep your eyes open for a house available to lease with an option to purchase. in case you stumble on one you like, have an criminal expert YOU hire write up the contract. stable success! You seem a functional individual who will do nicely.
2016-10-02 00:50:53 · answer #3 · answered by boice 4 · 0⤊ 0⤋
If you put down a large down payment you will probably find someone to fund you.You will need at least 20% down tho.
2007-02-26 06:20:38 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Large down payment or a co-signer are your best options.
2007-02-26 06:21:53 · answer #5 · answered by Quixotic 3 · 0⤊ 0⤋
If you are an illegal alien you have a better chance than most american citizens. go to bank of america and apply for a loan.I am serious.
2007-02-26 06:24:03 · answer #6 · answered by katie d 6 · 0⤊ 1⤋