This topic contains 5 replies, has 1 voice, and was last updated by Anonymous 8 years, 4 months ago.
- April 26, 2011 at 3:02 am #199468
I’m Glenn Kelman, Redfin CEO. Thanks for all the lively, thoughtful posts to this forum.
I was writing to ask if any contributors have changed their thinking about investing in their current home?
A New York Times reporter is developing a story on how our mindset about home-ownership has changed to become more like that of renters, because we feel like we are less likely to realize a return on any investment we make in a new kitchen or a new roof. If you as a homeowner have thoughts on this idea or especially personal anecdotes, let us know what they are, and we’ll put you in touch with the reporter!
And thanks as always for your support of Redfin!
- April 30, 2011 at 12:32 am #414625
Your credit is bad, but the lenders are more interested in the property you are buying. If you are buying a property that has a lot of equity in it (20% or more). You could get a mortgage with on down payment.
Just concentrate on owning a property for now. Your next house can be your DREAM HOME.
- April 30, 2011 at 12:32 am #414626
the secret behind the barnkruptcy is if you have reestablished good credit since with no negative credit. if you have done that it is possible to get a mortgage.
there are many people (bankers and brokers alike) who will try to give you a high rate sub-prime loan but if you are buying a house that is within the fha loan limits you will be able to get an fha mortgage at a competative 30 year fixed rate mortgage.
there are no income limits (restrictions) but there is a maximum loan amount based on the county you are in. to find out the maximum loan amount you can go to http://www.hud.gov click on buying and then look for the icon that say loan limits.
if you want help you can send me an email and i will be happy to help you or you can call 1-877-OK-MONEY for help on FHA mortgages.
in the meantime, i wish you the best of luck
- April 30, 2011 at 12:32 am #414627
Lenders will give you a loan now, but your best bet is to wait a couple more months. Once your score is at 640 you will get a much better quote on your loan. This will also give you time to put a few dollars away and to research the areas in wich you want to live.
As far as improving your credit, try to keep all your credit cards under 50% of thier max amount, and make your payments on time. You should also refrain from letting anymore people check your credit for a the next fw months. Having lots of checks does lower your score, but they disappear after 90 days.
You should definately get a mortgage broker you can trust. It sounds like this guy is a little shady. Brokers are much more likely to find a program for you at decent rates. They should find out about your specific situation before telling you what you need.
A fixed loan is not always the best option for someone. I fyou do get a variable just make sure it covers the length of time you plan to be in the home.
- April 30, 2011 at 12:32 am #414628
I agree get a house thats more money I,m doing that myself, good luck
- April 30, 2011 at 12:32 am #414629
Our offices are located in Jersey. We can give you credit repair and a loan. Email me at firstname.lastname@example.org if your interested.
You must be logged in to reply to this topic.