What are the steps in buying a new house? (Fresh out of college!)?
360653
Your debt to income and the loan amount vs. the interest rate determines what you can afford.  Basic projection is your total monthly debt payment cannot exceed more than 50% of your gross monthly income.\nYou do not need to worry about the time on the job issue as long as you are employed in a related field to what you studied in college.  The contract for your new employment will suffice.\nDepending on your credit and how bad it actually is will also determine what LTV (loan to value) you qualify for.  You can expect to pay off any outstanding judgement you have, but your other collections more than 24 months old can be ignored with many lenders.\nThere are literally thousands of loan programs you probably qualify for and speaking to a Loan officer and having them reveiw your credit is the best initial step to take.
598578
Being there a innumerable ways to begin establishing your credit and to buy a house with no credit established, I will offer you a couple ideas for both.\n1.The best way to purchase yourself a house with no established credit is either from an owner financed, lease to buy, or first time buyers program.Many people now are selling their own homes or purchasing homes and selling them as investment realty properties.Look in your local newspaper real estate section and contact owner financed offers,in these cases the owners carry the note and generally only want a down payment, and proof of income.Lease to buy offers you the opportunity to purchase by making lease payments to the owner and then deed the property in your name when the purchase price has been paid,in this case make sure lease payments are credited to the purchase price in the event you come into some money at some point and want to pay the full balance before the lease is up,bare in mind the lease option will have a shorter term.The FHA and VA offer first time buyer programs and many homes qualify, you can only use the first time buyer FHA once, to use this method contact a realty agent and tell them you are a first time buyer and want to go with a FHA qualified property , usually only proof of stable income and job history is needed as the government is trying to bolster the economy and help people buy a home.Department of HUD in your state is a great place to look for value properties that qualify for FHA loans.\n2.Establishing credit is not near as difficult as it once was,you of course must be over 18.Department store cards like Jc Penney, Sears, Dillard's, ect, are the easiest to get,many banks like orchard and household,and capitol one offer low limit starter cards too (visa & mc).Buying a car and making 6 -12 consecutive payments works well too.The best way is credit cards of any type that are unsecured,secured cards don't mean a thing.Be prepared to maybe pay a little higher interest rates or get lower limits to start with but that will immprove as you make payments.Be sure to make payments on time and at least minimum.Try to pay the balance every month, and never let your balance exceed 50% of your limit.You can also get loans at smaller loan companies like beneficial,american general and such if you have a car or something you can use as collateral,and then make your payments.The important thing is get them reporting good stuff about you to the credit bureaus.Remember your just trying to get in the game and as you build your credit history and score better rates and offers will start coming to you in the mail.Of course you must have a job or proof of income and stable history of at least 6 months to a year to do any of these things we've talked about.There are some ways around this but thats a little to creative to condense into a short yahoo answer.Good luck and try a few of these things they will work for you , we have all been there.
154857
find a new attorney! and someone new to buy the home.
33208
I would start now.  It is a good idea to keep an eye on the market before you ACTUALLY are going to go for it. \n\nWe just did this - We sold our old house.  (We started looking at homes in end of May beginning June.  We saw a few we like and ALOT that weren't exactly what we were looking for.  they needed too much tweeking so we kept looking.   \n\nIn July we put in an offer - they didn't take it.  So we moved on.  Then in August we put in another offer and they wanted to go too high so we moved on.  Then we finally found the house we are in and it was September that we put the offer in.  We closed on the house and moved in - in Oct  (three months ago)  We had time to really look and not feel rushed and also to know that we were getting a good deal.  If you aren't activly looking  ( I mean every single weekend) and watching your local market where you want to buy into - every single day - you won't be as prepared to buy.  So I say now is the perfect time to start looking.  Just don't jump on the first thing that comes along - be patient - Sometimes you have to let a few deals go to see what is really ment to be.  \n\nGreat site to watch the MLS  (multiple listings service)  is Zip realty.  they are free - you just have to sign up, they give you a few info emails - but the rest of the time you can hang out on that site and just watch all the houses in your area of search.   You can save specific searches in your "My zip" area and go to them each day to see what new houses are on the market and if any have lowered their asking prices.  It is invaluable!! \n\nI litterally logged onto my "Myzip" every single day for July, August & September - It was probably the most useful tool.\n\nBTW - We didn't use a realestate agent either.  We watched the listings ourself and called to make our own appointments.  We never used the zip realty guy that was in our area.  You don't have to if you don't want to.
1165901
Let wifey finish school and then buy the home. There is no use rushing into a mortage and you are not financially ready. It may mean a few more years but it can also give you a peace of mind. Good Luck!
909746
Pay cash if you want stay.\n\nIf you are investing, rent it out.\n\nAnother fastest way, when you bought it,do a back to back sales to another buyer(subsales)
504969
You should search yahoo answer first.  Similiar questions have been asked before.\n\n- Get pre-approval from a lender\n- Get a realistic estimate of the house you like to buy\n- find a realtor
882745
I am interested in purchasing bundled mortages from banks,\nmortage houses.  and default loans.
177410
Pay yourself first! No matter the source of your income, put 10% after taxes into some sort of savings program, preferably a ROTH IRA. Then be strong and don't touch it. You'll be surprised how quickly it can mount up. Even if you can't make the 10%, save something!\n\nLook for bargains but don't sacrifice quality. \nUse coupons.\nConserve utilities.\nDo you really need that cable TV and cell phone? They are expensive.\nLook for plans that are in tune with your lifestyle. If you have to have that cell phone, are you paying for roaming, long distance or minutes you don't use?\nLook into pro-rated utility charges.\nRead a book instead of the movies.\nListen to the radio instead of that new CD.\n\nJust some thoughts...Good luck.\n\nThanks sk8trzmom
207585
I hope this is purely rhetorical.  If you're really serious, and can afford the move, AND continue to live there, I would start with a visit to each.  I believe that to be the only way to make a realistic decision.
699754
Home Inspection by an independent inspector (not one associated with the real estate agents involved).\n\nGet pre-approval for your loan.  Only buy a house that will amount to payments of no more than 33% (less if possible) of your monthly income (Don't get an interest-only loan).\n\nTake a look around awhile before buying.  Don't jump on the first house.  Think about it a couple of days.  Make an offer that you feel comfortable with.  Don't go over your head.\n\nExpect to have to purchase all the little things that you don't need when you rent, if it's your first house (Lawn mower, trimmer, water hose, landscape plants, curtains, basic household tools, etc.)
707692
Here is the best advice you will recieve. \nBefore you even step foot into a realtors office I would suggest you get approved for a mortgage. You can get an official approval, competitve rates and programs at my company site www.JustGetALoan.net. Getting approved does two major things for you: 1 it lets the realtor know they have a real client, I know it sounds lame but they will treat you 100% better when you have been approved. 2) Being approved gives you buying power. Imagine you were the seller if you wanted to sell your home for $300,000 and i walk up to you and said Ive been approved for $285,000 and can close within weeks they are more willing to take that official offer than trying to hold off for people who they do not know they can really buy the home. This creates a better situation for you becuase now you have equity or money in the home. If you would like further assistance feel free to contact me at 866 530 7300 ext 7305 or email me Jenold Freeman at jfreeman@justgetaloan.net
200266
Look at your income and determine how much you can afford ... be realistic ... things like garbage and water and landscaping are expenses you may not have had in the past.  Then decide where you want to live ... city, suburbs, rural ... single family home, condo ... research neighborhoods ... do you have kids? ... school districts, will you be commuting? ... traffic and public transportation ... work with a realtor ... they are the experts ... remember it is the SELLER who pays the commission for the buyer's and seller's agent ... good luck.
54009
First of all you should be gainfully employed now.  If you have a job take your time, figure out what you want, how much you want for doing it and then find someone willing to pay you what you feel your skill set is worth.  If you are new to the job market, get in and get comfortable, your first job will not be your last.  \n\nThe most important thing is don't make decisions based on fear, uncertainty or doubt.  If you don't have a job and need money to pay bills you will pretty much settle for anyone willing to cut you a check every two weeks.  But if you take your time, plan your move, interview with lots of companies and select your best opportunities based on your set goals then you can make a solid decision.\n\nDon't rush... Plan and obtain.\n\nAnd $20,000 per year is a BIG deal!  That's the cost of a new car, could be savings you don't have now, a down payment for your first home...  Or many other things you don't have disposable income to afford today.
1084515
Really straight forward:  no unsecured debt.  If you have credit card debt get rid of it.  Use your 25K if necessary.\n\nNo car payment - pay off any installment loans you have.  Use your savings if necessary.   You wil then be able to save expedentially each month.\n\nWhat kind of house are you after with $75K down?  That's a huge down payment for a first time homeowner of any age!\n\nYour first house should not be your dream house, it should be one that you can sell in 5-7 yrs to the next first time home buyer.  \nMake sure the location supports the property.  Buy the smallest/least expensive house in the best neighborhood.  \n\nDon't buy the biggest/most expensive house on the block...lose out on equity potential.
667306
Why not actually move into one of the units.  Then you are completely above board (though the *wink*wink* will probably work ok too).  \n\nAs to how to do it, there is no best answer, it depends on your situation.  \n\nThe route I would follow is, find out first off how much money you will need.  Be sure to budget for closing costs, fixup, etc; and be sure to ask several banks/ brokers to get the best number.  \n\nNow, just figure out how you can get that money at the cheapest cost to you.  If you have the money, great.  If you can take out a 2nd cheaply and get it, do that.  If you need to refinance, do it.  I'd make sure I had the money (or at least a plan for how I would get it) before putting down a contract though thats not required.  Of course make sure the contract has a financing contingency, and a general contingency it the seller will allow it (a general contingency like "contract is contingent upon approval of spouse" - if you get this is there are decide later you don't want the place, shouldn't be to hard to have the spousal contingency fail).\n\nI guess the easiest way to put this is, figure out exactly what you want (a 2nd 2 family), exactly what you will need to get it (x dollars, plus y hours of time, etc) and then do whatever you need to do to reach your goal with the minimum cost and time loss to you.  I realize this is a general statement but without knowing more about you I can't make it more specific.\n\nAlso, I always hated even bending the law even in the really minor way you describe (though I did it a few times) fearing it would come back to haunt me someday.  I got lucky and it never really did hurt me much, and now I'm totally above board.  I'm not suggesting you not do the *wink*wink*, just that you avoid that as much as possible.\n\nBest luck.  Also, by the way, there was an extremely active foreclosure specialist in my area who just got caught with something like 120 properities in her name, all of which she had bought as an owner-occupant.  I guess if she can get away with it 119 times (plus the 100's she sold over the years), you can get away with it once.
737755
There are any number of ways: get a loan, mortgage your house, ask family members...