Honest question

[RaspberrySwirl 20]

How are people able to buy so quickly?

Simply wondering. Honest.

[TracyTN 237]

Lots of good 'first time homebuyer' benefits out there.

[faith 0]

even first time homeowners usually require a significant work history (2 years at the least) and some credit.

my hubby's been here for a year, and we still have yet to establish credit in his name. (We are looking for the best way to do so at this point).

all I can think of is that the USC must have good credit and work history.

[RaspberrySwirl 20]

Lots of good 'first time homebuyer' benefits out there.

Such as?

I don't know, we're kind of looking into it but we still have the car to pay off the next 5 years.

Our landlady just sold the building we live in so we'll be looking for another place to live in the next few months.

And how cute is this little home? But goodness, that's alot of money.

even first time homeowners usually require a significant work history (2 years at the least) and some credit.

my hubby's been here for a year, and we still have yet to establish credit in his name. (We are looking for the best way to do so at this point).

all I can think of is that the USC must have good credit and work history.

Yeah, I guess that's what I was mainly wondering about.

Ergh, how do I work on my credit if I don't want to make big purchases to pay off?

[rebeccajo 14]

It's called LOTS of lenders out there. Lots of creative financing programs, including some old stand-bys like FHA.

Plus a new breed of lender - the predatory type. Deal seems to good to be true? Then it probably is.

[Jaylen Brit 0]

That IS sweet! I like it

Be too small for us tho - we're a TRIBE

[Sister Fracas 5]

Lots of good 'first time homebuyer' benefits out there.

Such as?

I don't know, we're kind of looking into it but we still have the car to pay off the next 5 years.

Our landlady just sold the building we live in so we'll be looking for another place to live in the next few months.

And how cute is this little home? But goodness, that's alot of money.

Look into Fannie Mae

[TracyTN 237]

Lots of good 'first time homebuyer' benefits out there.

Such as?

I don't know, we're kind of looking into it but we still have the car to pay off the next 5 years.

Our landlady just sold the building we live in so we'll be looking for another place to live in the next few months.

And how cute is this little home? But goodness, that's alot of money.

HUD (Housing and Urban Development) has a lot of those types of loans, all with different pros and cons and different requirements (things such as Faith mentioned).

Try THIS link.

[faith 0]

Lots of good 'first time homebuyer' benefits out there.

Such as?

I don't know, we're kind of looking into it but we still have the car to pay off the next 5 years.

Our landlady just sold the building we live in so we'll be looking for another place to live in the next few months.

And how cute is this little home? But goodness, that's alot of money.

I couldn't see the price on that listing btw

Our problem is the credit/work issue. My credit sucks. J has no credit yet. He's only been in his job a week.

Our rent is super cheap $500 per month for a 3 story house. (It's a duplex actually). We have 3 bedrooms and 1 bath upstairs, a living room, a family room, a bathroom, and a kitchen on main floor. And in the basement we have a walk out basement. The room that walk out is in (great for storage and outside toys and our big freezer), a laundry room, and a front room that could be used as a bedroom. But my landlord is super old and has no clue how much he should charge, so he charges $500. We need more space and really want to buy but can't for 2 years so J can build up a history.

[Sister Fracas 5]

BTW, that is a charming looking little house...

[chri'stina 190]

We were able to buy by using a combo of things...

-having about $3000 tax return money to use towards things we'd have to pay while buying a house (home owner's insurance prepaid for the year, and a deposit of $1000 to go to contract, plus home inspection fee, etc)

-going through Florida's first time home buyers program, which has 100% financing at a very low interest rate, plus supplemental loans with even lower interest rates for paying closing costs. I'd suggest everyone to check what their state has to offer!!

-both of us have good credit scores

-Sujeet has a salaried job, making decent money

He'd only been working in the US a year and we were able to get our mortgage done through him as the money maker(I don't work right now).

I really didn't know we'd be able to so soon, but it all seemed to work out well! The hard part is the monthly payments after buying a house...but Sujeet just got a raise so we're ok!

[TracyTN 237]

It's called LOTS of lenders out there. Lots of creative financing programs, including some old stand-bys like FHA.

Plus a new breed of lender - the predatory type. Deal seems to good to be true? Then it probably is.

I bought my house on an FHA loan. Also, military personnel can get homes through the VA, which may account for some of the numbers of new home buyers that you're seeing, too. Less stringent requirements, I believe (but seeing as they serve my country...too right they get a break!).

Ditto on the predatory type of lenders: be careful!

[faith 0]

Lots of good 'first time homebuyer' benefits out there.

Such as?

I don't know, we're kind of looking into it but we still have the car to pay off the next 5 years.

Our landlady just sold the building we live in so we'll be looking for another place to live in the next few months.

And how cute is this little home? But goodness, that's alot of money.

Look into Fannie Mae

Fannie May, Hud, all of them you have to have a credit rating. Otherwise you won't get approved or if you do you will be eaten alive in interest .

I used to own a house with my ex. We bond for deeded it and then refinanced thru a mortgage company. It is by far the best way that you can go because it's easier to get the loan when you live in the house. That is it's the best way if you can't get a conventional mortgage.

[Mr. Big Dog 10,747]

I couldn't see the price on that listing btw

Fact Sheet

Address: 13805 Central Ave

Neighborhood: Becker

City: Becker

State: Minnesota

Zip Code: 55308

Price: 159900

Bedrooms: 2

Baths: 2

House Type: Residential

House Style: Two Story

Property is available from: 11/01/2005

Square Footage: 912

Garage:2

Year Built: 1923

School District: 726 Becker

There, how's that working for you?

[chri'stina 190]

If your state has a first time home buyers program, then they should have first time home buyer classes that are free. We had to take it as a requirment to get the loan we got. You can sign up to take the class even if you are not in the process of buying a home. They go over every detail possible about credit scores, how to make your score better, how to find a house, how to do just about everything when it comes to wanting to buy a house.