How Can I Buy a Home???
July 26, 2010 | In: Uncategorized
I just got discharged from Bankruptcy….and have a steady job for almost 4 years….I also have 10-15 thousand dollars for down payment and the home I would like to buy is approx. 90-110 thousand. Is there any chance of getting a mortgage?? The home net income is 45 thousand….are there any other ways if the bank refuses?? I think they will.
3 answers
hotchotlver
July 26th, 2010 at 11:02 pm
Go to a local real estate office and talk with a loan officer…they can help you as well as any bank…and then some….they can check your credit report and tell you what things you can get rid of to get a better loan on a house…having the money for a down payment is a plus…I had 15 grand when we went to the loan office and only needed 5 grand for a down payment. You dont always have to go through a bank to get a loan for a home.
bob W
July 26th, 2010 at 11:39 pm
very simple
lease 2 purchase. Find a no money down lease 2 purchase home on like a 5 year agreement. Then resell the contract to the next person looking for a lease 2 purchase and collect 10-20k down. You make money flipping without an investment.
SCH
July 27th, 2010 at 12:20 am
Most likely owner financed (ie rent 2 own) is the best and only way to go. You will have a hard time getting financed having just been discharged from a bankrupcy, especially if a home was included in the bankrupcy.