I’m listening
Buying a Home is a Headache
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I’m listening
NACA is trash and takes mad long to get approved.I feel you, you’re poor.
And I mean no disrespect. Just stating it’s a realization most first time home buyers must come to when looking for a house.
I suggest you start throw the price limit out the window and look for the house you want. See what’s a reasonable budget for such a house. Then, start whittling away at those requirements. For example, you require a 3 car garage, decide if you really need a 3 car garage or how much lifting that requirement will cost you. You need to separate your “wants” from your “needs”. Drive the price down as far as you reasonably can. Then, determine if 300k is truly your limit. Would you walk away from a house that checks all the boxes but is 305k? Find your true limit and be patient as you search but ready to pounce when the right house comes along (cuz you may not see another “right” house for months if you miss on that one).
Finally, make sure you have the best mortgage you can get. Getting a better rate allows you to buy a better house. Look into NACA to see if it’ll fit your needs. The best mortgage offer I’ve come across, I highly recommend it if you can get it to work for you.
"NACA focuses on low-to-moderate income homebuyers called “Priority Members” and low-to-moderate income areas “Priority Areas."
Conventional >>>>>
But then again I probably wouldn't qualify and I'm planning to pay my house off within 10 years
60k is not worth it or needed....interesting rates are super low.
Do a conventional with 5% down and prepay the PMI.... but it really depends on what monthly payment you can afford.
The real estate guy I’m working with mentioned a loan that will give you money for any renovations you make to a fixer upper.
Ezekiel 25:17
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Sounds like you have my taste. I hate new construction with a passion.
You'll have to find an old neighborhood built in the 50s-70s to really get the house you're looking for.
You'll have to find an old neighborhood built in the 50s-70s to really get the house you're looking for.
Once these forbearance programs ends it will be a buyers market. Won't happen until probably 2022 though. That is when I am planning to buyThis. This is what’s stopping me from buying a house. Can’t wait until this shyt switches... if it switches
The $400 mortgage origination fee still makes me mad nearly 5 years later. How you charge me additional money to borrow money at interest?
You cannot time the market so you should just buy a house when you are ready to.
But the inventory is crazy low depending on where you are so I can understand if you don't feel like getting into bidding wars or any of that
203k is the only one I know of. Rolls the cost of repair into the mortgage. You can either do the work yourself or charge someone. I’m going to try to refi into a 203k to do a whole home remodel.
6709 Pencade Ln, Charlotte, NC 28215 | MLS #3680989 | Zillow
Soon as I refresh my browser, they are under contract.
Do you have a realtor?
But all them houses be GONE as soon as they are up for sale! And they cost more than the new ones do!
My naive ass thot I would just got get a cute lil brick ranch home: 3 bedroom, 2 bath, with an office space and a living room and a dining room, nice size kitchen and breakfast area. Cozy den with a fireplace...garage...fenced in backyard so the rottie can run around, 1700-2000 square feet.
Shouldn’t be no more than $225,000, right? RIGHT?!
Nope....why is the lil house like the ones I grew up in more expensive than a new home?
It doesn’t make sense!!!!!!!!!!
Are you thinking there will be a bunch of short sales or foreclosures available?
R.E.N. Spells Ren
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Yes! I am! I’m nowhere near six figures just yet. My side business just popped off.Even worse...I’m cheap!!!
So my current rent is comfortably $1350 but that includes water, trash, sewage, cable, and internet.
So really don’t want a house payment over $1300 if I can help it.
I also have to consider space because I have a family member who will be living with me.
I’ve heard about NACA so ill definitely look into it. Thanks!
I feel you. Def stay within your comfort zone regarding price. But don’t forget that your house truly does double as an investment. The better house you buy, the better house you can sell when it’s time to move. So your mortgage should be looked at through a somewhat different lens than you how you see your rent expense.
Yep that’s the one he mentioned! Your project sounds so cool! What do you wanna do?
This is true.
My problem was I was trying to get the house for the same price I rent as and a my area is really not possible unless I buy a piece of trash.
I am just making sure it is within 25% of our monthly income and I can live with it and be comfortable