I want to buy a home!

I am a single mother working as a teacher and want to purchase a home. But don't think I can afford a home. I am tired of paying rent. Is there a way I can become a homeowner and not pay an outrageous mortgage? Your advice will be greatly appreciated!

Actually, yours is potentially the best scenario to buy a home, as long as you're very clear on every document that's presented you. (From the time of application to closing.) There are still quite a few HUD approved first time homebuyer programs designed for your particular situation that can also help with the down payment and closing costs. I'd strongly recommend you do the homework first; Buying a Home - HUD should be a good point of beginning. After that, as a start, I'd suggest contacting a good local bank to see what you'd qualify for, i.e. what programs, interest rates, etc they offer (typically a more conservative lending institution, but largely reliable considering the amount of federal regulation still involved.) Just don't get carried away applying at too many institutions; their credit inquiries can seriously impact your credit and directly affect the interest rate being quoted you.

No one can answer your question accurately until you actually apply for a prequalification. Even then, if you're not completely clear with every document presented, I can't urge you strongly enough to consult with a real estate attorney before you sign anything. Read your local newspapers, listen to your local (and national) news .. the mortgage industry has in effect collapsed from hundreds of thousands of "bad loans," uneducated buyers and unscrupulous lenders and the foreclosure rate is still climbing. While all of this may help with the sudden decline in property values, bottom line, no one can help you AFTER signing that purchase agreement or especially, after closing. I'd also strongly caution against others' personal experiences or relying too heavily on the words of the real estate agents, mortgage representatives or the like. No one can guarantee a perfect situation, but your chances of becoming another foreclosure statistic can be lessened a great deal with good legal counsel. (Obviously my opinion.)

Hope this helps. (Didn't realize I'd posted such a long response, so please check your private message above.) That first home may be more 'possible' than you think. Good luck to you.

Hi,

All Estate Agents are not same, they are very corporative, You can go to them and ask your problem they can give you a good tips which gives you a benefit.

Thanks
Webmaster

I'm not certain that "corporative" assistance is what the poster was asking for--and I feel very certain she doesn't live in London nor does she have anything to do with anyone's estate ( noting the difference between countries regarding the use of the word 'estate').

Go, Admin!! Whomp whomp!

If you want to buy a home...here in South Texas...more money available to buy a good home. I spend about $800... you could get for up to 125% of the home's value, which was designed to...


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Dude, YOUR posting says SOUTH TEXAS and your SPAM links say CT. DURRR DROOOLLL DRIBBLEEEE AWWWW WIDDLEEEE DURRRRR..

Did you even READ the terms of service that says NO LINKS in signatures ( i.e. NO SPAM?) Bugger off and take your spam with you. Either that or the nasty BOLT of the ADMIN will STRIKEEEEEEEEEEEE!!!
I posted here to make sure she does---she might miss your posting, but you can bet your chattel she never misses mine with her big red marker!!!



Whomp Whomp, Go Admin!