My professional opinion it’s a Bad Idea and here’s why:*You pay about 20% above the typical rent for the house as well as option fees etc.*The agreed upon purchase price will be what the owner
Preparing To Purchase A Home
Dated: June 24 2020
Views: 594
When Preparing to Purchase a Home the First Step is getting your finances and credit in order. Mortgage Lenders Review you Credit History, Employment Status, Income and Debt to qualify you for a mortgage loan.
Credit Scores - 620 or Higher FICO scores will ensure you get a good mortgage rate
Income- documented income (check stubs, W-2s, 1099s, tax returns will be used to verify your income) If you own a side business or self employed the amount of write-offs you take can affect your qualifying income
The Amount Debt you have can reduce your qualifying Income: Loans, Credit Card Debt, Owed IRS Taxes or Repayment Plans, Student Loans, & Child Support. .
Tolechia Lane
I purchased my first home as a single mother in my early 20's, so I know the fears, the anxiety and the financial responsibility that comes with such a large purchase. But I also know the pride, joy a....
1 comments in this topic
-
My credit isn’t the greatest. I wanted to find out the steps to become a first time homeowner
Latest Blog Posts
Imagine paying 3.5% down payment, using a mortgage to purchase a home but getting a 100% of the property to enjoy and all the benefits that comes with it. That is called leveraging your money and
When Preparing to Purchase a Home the First Step is getting your finances and credit in order. Mortgage Lenders Review you Credit History, Employment Status, Income and Debt to qualify you for a
Did you know that when you purchase a home, pay your down payment and closing costs, the money isn’t gone?!You’re literally investing the money and flipping it!! Think of it as a
© 2021 North Texas Real Estate Information Systems, Inc. All rights reserved. Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Ink Realty shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The database information herein is provided from and copyrighted by the North Texas Real Estate Information
