Lots of houses for sale in 79912 Zip- time to learn. (insurance, credit card)

[meredithmyoung]

We just purchased in the 79912 area and we were able to purchase a home without 20% down (but we did have to have mortgage insurance > We bid way down from the original price of the home and it was ready to go into foreclosure before we offered on it. They didn't make any money on the house but at least they got out of it without going into foreclosure. We have moved many times and usually we purchase new homes, this time we bought a home that was a couple years old. We wanted a pool and didn't want to mess with hiring someone to do it and it already had all the window coverings and landscaping done. Yes there are things with the house I don't like, but the things I do like out weight the ones I don't.
There are a lot of houses for sale up here but I have been told that some of them are due to military families being relocated. There are some great deals up here with motivated sellers.

[lipbalm]

Originally Posted by danieloneil01

In your short reply you never said anything about loan types. You only said you need 20% down and great credit, which is false. And now I'm just on the loan with my credit and income and still approved. And my % is 5%


And you can't blame just the buyers. Banks are just as much to blame.

"Socorro Renteria, a Realtor for Keller Williams Realty, said it's becoming more difficult to get people qualified for a mortgage loan because of tighter lending requirements. And it's difficult to find many builders with homes in an affordable range for people with low incomes, she said. Renteria takes many of her clients to Horizon City, where one builder, Vista Serena Homes, builds homes in the $86,000 to $115,000 range, she said."

I guess it has become more difficult to buy a home.

[ocean2026]

My credit rating is 798 assets to liabilities 11-1 ( but not liquid- land) and I never paid my mortgage late in the 11 years I had it. You have no idea about the nightmare I'm going through to get a refi so I can use cash to buy something else. The property I am using is appraised at almost double the amount I need.

Its been 2 months and 4 days as well as over 120 pages of info. No settlement date in sight.

[piyf]

Originally Posted by lipbalm

"Socorro Renteria, a Realtor for Keller Williams Realty, said it's becoming more difficult to get people qualified for a mortgage loan because of tighter lending requirements. And it's difficult to find many builders with homes in an affordable range for people with low incomes, she said. Renteria takes many of her clients to Horizon City, where one builder, Vista Serena Homes, builds homes in the $86,000 to $115,000 range, she said."

I guess it has become more difficult to buy a home.

It's not becoming more difficult to buy if YOU CAN. I'm not talking about people making sub 30k trying to get into a 200k home. If you have a score over 620 and have little credit card debt then getting an FHA loan is easy. So easy that even I could get one.


And my realtor told me the samething about it being harder to get a loan.

[piyf]

Originally Posted by ocean2026

My credit rating is 798 assets to liabilities 11-1 ( but not liquid- land) and I never paid my mortgage late in the 11 years I had it. You have no idea about the nightmare I'm going through to get a refi so I can use cash to buy something else. The property I am using is appraised at almost double the amount I need.

Its been 2 months and 4 days as well as over 120 pages of info. No settlement date in sight.

go to

Real Estate, Homes for Sale - Zillow

register and do a quick loan application. They don't run your credit. You tell them what you want and give some info and you get quotes. I'm willing to bet someone can help get this resolved.

[mrsrobinson73]

see that is a question I had. Even if you get lucky, and get a great house for MUCH cheaper b/c they are really motivated to sell it~ you get taxed at what el paso determines it appraises for NOT how much you bought it for.............we are lookin at $4000 a month for our house that we are paying $160,000.00 ~ if they appraised it for 200,000 that amount would skyrocket! Can I jsut say EL PASO PROPERTY TAXES BITE hahahaha

[piyf]

Originally Posted by mrsrobinson73

see that is a question I had. Even if you get lucky, and get a great house for MUCH cheaper b/c they are really motivated to sell it~ you get taxed at what el paso determines it appraises for NOT how much you bought it for.............we are lookin at $4000 a month for our house that we are paying $160,000.00 ~ if they appraised it for 200,000 that amount would skyrocket! Can I jsut say EL PASO PROPERTY TAXES BITE hahahaha

You get your realtor to do the paperwork. If you buy the home for less than it appraised at you get the realtor to get the city to lower it by showing them it was bought for way lower. Your realtor can do more than just show you houses and put in a bid on a home.

[lipbalm]

Originally Posted by danieloneil01

It's not becoming more difficult to buy if YOU CAN. I'm not talking about people making sub 30k trying to get into a 200k home. If you have a score over 620 and have little credit card debt then getting an FHA loan is easy. So easy that even I could get one.


And my realtor told me the samething about it being harder to get a loan.

Well unfortunatley most people lived in the buy now pay later world so I suspect if you have little to no CC debt you are in the minority. What's the median income in EP again? So it's great you are good to go but I would bet it's the exception rather then the rule for most.

[piyf]

Originally Posted by lipbalm

Well unfortunatley most people lived in the buy now pay later world so I suspect if you have little to no CC debt you are in the minority. What's the median income in EP again? So it's great you are good to go but I would bet it's the exception rather then the rule for most.

First you said you needed near perfect credit and also 20% down now you want to spin it. Next

[lipbalm]

Originally Posted by danieloneil01

First you said you needed near perfect credit and also 20% down now you want to spin it. Next

Well according to your previous post you have "perfect" credit.