Is anyone else finding it really hard to buy a house?
924406
There should be a helpline for us first timers. Its a nightmare. Sorry my answer isnt very constructive, but I wanted you to know I share your plight!
617060
It's really difficult - a lot of hard work and late nights.  I have a website and sell on ebay.  I make enough money to survive, but hopefully that will get better.  Do your homework, learn a few things about business and prepare to work very hard.
1140279
Im in the process of buying a house and I went with Direct Line as they go with affordability only.\n\nMe and my husband spent 4 years trying to find a good house for less than 60,000, but ended up going for a new build, with 5% deposit paid by the estate agent aand was able to afford the 100,000 mortgage we needed for the house.\n\nDirect Line - you do all of the hard work on line, they send some forms for you to fill in, send them back with other information (wage slips, back details, address info etc...) then they either offer you the mortgage or not.\n\nWe were actually quite lucky to get ours because my husband has just started a new job so there was abit more info to gather up and send off.
263999
I also had poor credit, but bought my first home last year.  I went through a broker, instead of just getting a real estate agent.  He was able to find a bank that would give me a "statement loan".  That is where I had the money, just not the credit.  They used my bank statements from the past year and seen that I had enough money to make house payments, and I was even able to get first time home buyer program, 0 money down, and the sellers paid the closing costs.  There are ways, but my best way was to go through a Broker, who was able to help me tremendously!
516506
It's not a bad thing in every situation.\n\nBut, you will probably be paying above the market value for the house.  It's similar to buying a car from a place like JD Byrider.  They know that if you could qualify on your own, you wouldn't be coming to them, so they charge you more, in most cases.\n\nIf you cannot qualify for a mortgage on your own and chose to go this route, get everything in writing.  Make sure you hold up your end of the contract.  Make your rent payments by check and make sure you have access to the cancelled checks.  You will probably need them when trying to get financed on your own later.\n\nRent to own or land contract purchases are not always a bad thing.  The owner may be anxious to sell the property and may be having a hard time finding interested buyers who are able to qualify for a mortgage.  So, they offer a land contract deal to sell the property quicker, so they can get on with their lives.  This happens quite a bit in the area I live/work.
761051
Lenders are increasingly concerned with the level of fraud inherent in stated income mortages.  When it is a HELOC it is even tougher because the lender is in second position and there is substantial risk if the borrower defaults.\n\nCouple that with a low credit score and you have a real problem.  You need to go talk to a lender that specializes in subprime home loans.  Try Novastar.
981051
First, how is your credit?  It's more a credit issue than an age issue.  Second, how is your employment history? With today's economy, that's a really important issue.  \n\nFrom my experience, as a second time house buyer, I was certain I would not qualify for a mortgage at great rates.  Since I hadn't bought a house in 10 years, I was recently divorced, making very little money, I knew nobody in their right mind would want to finance me.  I figured, as much as I hated the thought of renting, it may be the better option of the two (I was currently living with my parents with my two children).I had called about a rental, knowing it was out of my range, but I was desperate.  It so happened that I was talking to a real estate agent.  She ran my credit report, showing a 797, 802 and 809.  She said with that, I had no worries.  So, together we found a home and I have been here since June of 2005.  \n\nWords of advice, be sure your taxes and insurance are included in your monthly payment.  \n\nGo for it - you sound like a 20 yr. old with a head on your shoulders and are ready for the homeowner responsibility.  Do your research and be sure you are prepared financially.  Good luck!!
1060024
You need a private lender.  Explain your situation to them and hopefully one will be willing to take on the risk.  It will help a lot if you have a steady long term job.   Private Lenders charge more interest than banks and some of them do show up on credit search - make sure yours doesn't.  In Canada they advertise in major newspapers under the category, "Money to Lend."  We got our house this way and it worked great.  Good luck with the dream home!
221256
At this point, buying a house in Orange County may not be the best purchase you could make.  Housing prices are at an all time high right now but they look to be heading back down.  That could put you upside down on your loan (i.e. you would owe more on the loan than the house is worth).  The prices are so high here that some of the people I work with are selling their houses for a large sum and moving into rentals until the prices move down.  Then they will buy another house and have made a profit on their old one.
284579
Everyone has the expense of housing.  Depending on circumstances such as employment, schooling, etc., one must decide either to rent or buy.  The Los Angeles market is extremely inflated, so purchasing properties these days is not a popular option.
216554
Realtors suck big time.   I have just had two very bad experiences.  They will lie to your face to get you to sign stuff.  For example, I was offering 106,000 for a home.  The realtor then added 6 percent to that and some other stuff, all said and done, I paid 115,900.  When I asked him why the numbers were higher than what I wanted to pay, he said "you aren't paying that, the buyer is going to pay the difference".  You are supposed to pay these people to help you and they don't.  They are just as bad as the mortgage companies.
150905
My best advice would be to start by opening a new credit line.  Paying your bills on time and saving as much as you can.  Credit can be a bummer when it comes to buying a home.  Good luck!
928067
Just work on saving towards a deposit.  Depending where you live, I would let your real estate work for you (ie live and rent out...) but you would have to be in a city or near business etc.  That is the only way.  I made what you were making 20 years ago and it was enough then...today I can't scrape two nickels together before they are sucked up by kids or taxes or bills etc.  Would never be able to have afforded to buy now...so glad I bought when I did.  But real estate always goes up...at least in a growing metropolis, so that is where you gotta be unless you just wanna live the simple life, which ain't so simple either.\n\nWhy worry about buying...maybe rent off someone who has just what you are looking for...and reap what they've sewn!  Use your money for the plusses in life...you can't take it with you after all...and all the richies in life...well frankly the more they make they more they find to waste it on...so it's stupid and irrelevant.  You can have what they have and more if you play your cards right and look at what really matters, not making designers rich off your money.  Doesn't sound like you'd want that kind of shallow life either because believe me most rich folks are a lot more boring than the good old down to earth people and not only that they are so busy working they never really get to live.  Life is short, enjoy what you have...it's all you need!
1070480
That isn't going to be easy.  Most places do a credit check.  There are ways with good credit to buy with no money down.  An individual might sell you real estate that way, but it isn't a wise way to do business.
1080943
No and I've gone through this before.  We went from apartment to apartment and because of our credit they would not rent to us. It's insane!!!  People with bad credit need a roof over their head too.  The rich just want all the non-rich to be homeless I think. It sucks.  We did get into a low income housing complex but because of our credit, out deposit alone was $800.00.  It's a nice place actually and I love living where I am but still.  It was hard getting in too.
47551
What are you trying to buy?  Single family - lots of lenders out there for a price - be prepared to pay.  Commercial/multi-family - probably not.
77751
There is so much to do.  We just went through it for the 3rd time.  buying a house isn't a fun thing.  it is stressful but rewarding in the long run if you do your homework.  \n\nYou don't need to have a realestate agent.  We bought all three homes without using our own personal agent and we also sold both of our homes without any agent.  What you DO need to have, is a good lawyer to handle all the paperwork and contracts.  ( ours cost about $800) small investment but very worth it!!\n\nI would start looking for a home AT LEAST 3 to 4 months in advance of when you actually want to be moved in.  The hunting part can take 2 to 3 months even longer if your picky/ or there isn't much to choose from.  Then comes the closing process.  This is the time you get the mortgage loan, the title, the home inspection, and all other legal stuff out of the way.  Finally you will be ready to close on the home.  This is the day that was set by the bank, you and the seller for the ownership to change hands.  \n\nYou will need to have enough money in your bank to cover the down payment you will be putting - along with closing costs.  the average closing costs are about $5,000 to $8,000.  So you need to be ready for that.  \n\nI would suggest not to get in too deep. don't go for interest only loans, they are a bad idea.  If you can't afford a house with a regular fixed rate mortgage you should probably hold off until you are finacially ready.  \n\nThere is just so much more than what I posted above.  If you are serious about buying a home - you should start researching it many months in advance so that you will not be in over your head and get taken advantage of. \n\nGood luck