Figuring out whether you qualify for a home loan, how much house you qualify to buy, and if not, what steps you need to take to get qualified is not a do-it-yourself deal, people. It’s also not that simple; there is a lot of information on these topics online, and I’m happy to give you some more specifics, but mortgage guidelines change frequently. Sometimes daily.
I’d hate to see someone never own a home or waste good years floundering about doing nothing or doing the wrong thing to prep for buying, simply because of questions that were never asked. I’m happy to help, but there are many state, county and local programs that offer down payment and mortgage assistance to those who need it the most.
As brilliant as I am, I don’t have all of these programs listed out in my mental spreadsheet. But local real estate brokers and agents and mortgage pros do. Don’t hesitate to contact them for help figuring out what’s available to you, or help putting an action plan in place if you can’t qualify to buy right now.
Whew. I needed to get that out. OK.
Now, let’s move on to some general rules of thumb that you can use for a very basic understanding of the bare minimums required to buy a home right this moment, with the caveat that these (a) are not absolutes (exceptions can be found where someone may not qualify with these minimums because of some other factor or may qualify despite meeting these minimums, because of some other factor); and (b) change all the time.
She is right! The best advice is get the best advice, if you’re thinking of buying and your not sure where to start, call us we will recommend some great lenders to you. We work with the best in the industry and that is truly where you need to start. Find out what your buying power is and then let’s look at property!