I'm currently renting a 2 bedroom apartment and my lease Is up in October. I'm not sure what steps to take to purchase a home or even how much I can be approved for. Any relators out there that can kind of guide me through this process? I can send more details through message with any other info that you might need. I just would like to know what to expect and what I can afford
There's a guy on here who's wife is a realtor. Can't think of his CF username right now.... Regardless if/when he chimes in I can vouch for his wife as a good realtor. I had worked with a different one before her and she was definitely better to work with. She helped me through my first house purchase and I had a lot of questions.
A home won't help you in the coming apocalypse, you really need to focus your resources on buying gold.
Yeah I remember seeing a member talking about his wife being a realtor. I just don't know where to start lol I went to my bank but not even sure if that is a good option with all the guidelines they wanted me to follow.
Let me know if you need an agent in Houston. I know about 5 who are all pretty good. Also you can thank Trump now your home loan will be at least 500 bucks a year more expensive as a first time home buyer. First things first- A. Can you put 20% down on any home loan on any home your find suitable? That a personal question you don't have to answer here but it helps you determine what your budget is. If you don't have 20% like most first time home buyers don't, you have to get an FHA loan and pay extra for PMI. B. Check out Trulia and homes.com first to get a sense of the market and what you think you can afford. C. Meet with your agent. They will take care of the rest, but don't sign the document yet that they will ask you to sign that excludes you from working with other agents. Ask for a few showings first in good will if they ask you, but if you put them through the ringer you need to sign that contract to not be a jerk with their time. Many more steps in the process but I'd get started now, and find an agent that you don't mind spending a ton of time with, and keep your emotions out of the deal if you can. Look at it from the economics if you can. Good luck.
Find a realtor. Get pre-approved for the loan. You will know then how you can spend. There are lots of things that renters don't need but owners do, like washer/dryer, fridge, lawn mower, curtains etc. You want to make sure after you close that you have some spare cash for these purchases.
I am no expert in financing but the loan amount (if approved) will be dictated by a number of factors: - Debt to loan ratio - Credit score - Down payment amount
