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Search: "Buying a home"

 
 

Asked 03/12/2008 07:34 pm CT (kitchener, Ontario)

Hi, I was wondering if you could help me with some information. I make $30,000 a year and have near perfect credit , no debts other then $1000 on a Credit Card and payments of about $15 a month , My work covers all my Cell phone bills , Gives me a Car and Fuel card , plus all upkeep , The only real bill I have is Rent. My Girlfriend on the other hand , has recently gone though a bankruptcy in the last 2 years. Has some Student loans and is trying to re-build her credit but don't have much of a new history since the bankruptcy. However she makes 50,000 a year and pays all the bills for the place we rent no problem. We are planning on buying a home in the future but are not sure what are price range would be. I have been looking into putting it just in my name but all the online quote calculators I try give me low numbers. Any info would be great. Thanks

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Here is how it works if the BK is over 24 months and with a good letter of explanation both of you c...

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Asked 01/18/2008 01:08 pm CT (ST. PETERSBURG, FL)

I WAS PLANNING ON BUYING A HOME LAST YEAR , BUT CHANGED MY MIND AND DECIDED TO BUY A CAR.I BOUGHT A 2006 PONTIAC GP GT ALMOST A YEAR AGO. BUT NOW I WANT A HOME. I HAVE BEEN MAKING THE PAYMENTS ON TIME $466.BUT I BELIEVE IN ORDER TO GET A HOME I NEED TO SELL THE CAR. BUT I OWE TOO MUCH MORE THAN IT IS WORTH. CAN I SELL THE CAR FOR LESS AND GET A LOAN FOR THE BALANCE, AND MAKE PAYMENTS?,,,,OR COULD I JUST VOLUNTARY GIVE THE CAR BACK, WILL IT HURT MY CREDIT RATING AND CHANCE TO BUY THE HOME, IF I DO THE LATTER? THANKS ROD

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Asked 11/09/2007 10:37 am CT (Sacramento, CA)

When buying a home that is in need of a few cosmetic repairs, is it possible to borrow more than the purchase price in order to make repairs if the house is being sold below market value? For example, the house is worth $100k, but is being sold for $90k. Can I borrow the $100k and use the extra $10k to remodel?

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David, I have access to an excellant loan program taht will take into account the future value of th...

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Asked 07/05/2007 08:05 am CT (Centereach, NY)

Hi im in the process of buying a home. We should be closing by the end of this week, but my loan officer is telling me he cant get me a loan. Now the sellers attorney is going to release the money I put up at contract ($5,000) to the sellers. Everyone is telling me im going to loose my money, what can I do? I did everything I was supposed to do, now im going to loose the house I want and the my money, please help me. Thank you

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Diana, Please email me more details. I need to know why you can not get loan approval, is there a...

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Asked 06/17/2007 04:52 pm CT (Hudson, NH)

HI there, My wife and I are buying a home but my credit score is higher so they are only putting my name on the loan. Since we are married aren't BOTH our incomes together considered the houshold income used for the qualification? Is it possible to have your income from your wife counted without using her credit score?

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Being Married doesn't really automatically make it household income. Do you know what your wife's c...

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Asked 06/05/2006 12:55 pm CT (Arlington Heights, IL)

Hello My fiance and I are buying a home for the first time. We both have outstanding debt and was wondering if there was any way that we could roll that into a mortgage? If not, is there any option that we have for that? Thanks!

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I'm not sure where your credit stands, but, if you have excellent credit, and are willing to take a ...

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Asked 04/01/2006 01:00 pm CT (Lafayette, LA)

I am taking the first steps into buying a home. I've enrolled in score watch with both Equifax and Citi for about 4 months now. I've been monitoring my credit a lot. My score dropped from a 607 to a 475 in one year, because of 2 collections and a past due on my credit card that only has a 250 credit limit. My score has improved, but it is only at a 556 and the lowest with Experian is 534. I know that by the time that I am ready to buy a home, which would probably be in July that I will have at least a 600 again. But I was just wondering, I have only been on my job a year I make $649.12 Salary every two weeks, plus commisions and bonuses usually an extra $250 a month after taxes and I receive child support in the amount of $307 a month. I also have poor history in 2000 gateway filed a judgement against me and it is in the amount of $3,100. I haven't paid it and don't know if paying it would even help my situation. In July when I am ready to purchase my home I will have about $8,000 to put down and for closing or what not. What am I doing right or wrong to prepare for this and worst case scenarion my credit score don't get to 600 what are my chances and with the income that I have what would be the best mortgae that I would be able to afford?

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Simone, it seems to me you are on the right track as far as trying to clean up your credit. However,...

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Asked 02/21/2006 10:14 am CT (ottawa, Ontario)

Hello i am just starting to think about buying a home. I am a first time home buyer and I would be buying it on a single income. I am hoping to buy a home for less than $175K. I currently have approx $30K saved up for a downpayment if I was to buy now. My other option is to coninue to rent for another year ($9000 annually) and save probably another $20K towards the downpayment. Which is a better option?

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Jen, I am not sure if your question is about timing the real estate market or avoiding the CMHC fee...

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