Damn . That house in the dmv would be 400k to 500k easy depending on the county.6709 Pencade Ln, Charlotte, NC 28215 | MLS #3680989 | Zillow
Soon as I refresh my browser, they are under contract.
Buying a Home is a Headache
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R.E.N. Spells Ren
Veteran
some may, some may not. I know several who have closed with NACA.
It’s best to have pre-approval letters from multiple lenders, so having one from NACA won’t hurt.
NACA is trash and takes mad long to get approved.
"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
Trash, how? It has the best rates and the best terms.
I agree that they are a headache to deal with. But given the potential savings, it is unquestionably worth the headache if you can get it to work for you. That “priority” stuff is just for those clients they’ll fast track. There is no geographical limitation or income limitation. The biggest two limitations are the sale price of the home and the fact that you MUST live in the home you purchase from NACA. I’m guessing 300k is below the limit for Greensboro NC, and the OP does plan on living in her home.
I can wait a few years. Unless the Democrats win and extend the forbearance it will crash within 2 year or 3 years and give me more time to save.
My house is a small cape cod, built in 1942 and needs some modernizing/updating.
I want to make my basement an apartment by adding a shower, kitchenette, and cosmetic upgrades. Then stay in the basement while the main floor is done. Again, mainly cosmetic, but I do believe I may spend some coin for electrical and plumbing updates. I have a walk up attic so I also want to add a half bath to make a cool space for my daughter. I’ve estimated about $30k.
Lord_nikon
Veteran
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!
may plans was to cop a house this year, but muhfickas buying these shyts like crack,,,
Oh well , the longer I wait the more I save
NegroTurbo
Pro
The most reasonable path in this market is to buy a house that needs work and spend the money you save on not buying a move in ready home to renovate it to your liking. Look into a 203(k), It will be stressful but it's very likely to be worth it to get what you want.
NegroTurbo
Pro
30k is not bad for that much work, you could probably do a cash out refinance and get that.
Yes I think so. Many of theses banks aren't putting the payments at the end of the loans. So when the forbearance is over the lump sum of these payments will come due.
On top about because these people aren't making their house payments they aren’t paying their TAXES either.
"Mortgage forbearance reached a peak in May 2020, with more than 4 million U.S. mortgages in forbearance, which represents about 8% of outstanding mortgages and $1 trillion in mortgage debt. Overall, through forbearance, homeowners have delayed about $4 billion in mortgage payments each month."
It's going to be ugly. If you have cash on hand you'll be able to clean up
The website specifically states there is an income and geographical limit
It seems like the only way to avoid a budding war right now is to buy a home that needs work or find a good realtor with a lot of connections who may be able to find a seller who willing to sell their home without putting it on the market.
Yeah with the 203k they appraise based on the update house value, thats why I want to go with them. There is another HUD loan up to $25k for energy efficient upgrades that I was also looking into.
Ezekiel 25:17
Veteran
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!!!!!!!!!!
Old homes are more quality material. Real brick, no cheap shyt and not thrown together.
R.E.N. Spells Ren
Veteran
Where?
Cuz the screenshot you just posted is just in reference to “priority” members
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!!!!!!!!!!
building is great, you don’t have to worry about someone outbidding yours and you can design your house and show it to a contractor.
We used The Sims! And built our layout
We weren’t paying $100 for designer software