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People get FHA loans 2 hours from work every day in DC, LA, SF and some others. Is your degree from a BS school or one that is actually regionally accredited.? You could do restaurant delivery 2 nights per week, and get a nice boost. Health cover should be more important than home ownership. Truck driving?
People get FHA loans 2 hours from work every day in DC, LA, SF and some others. Is your degree from a BS school or one that is actually regionally accredited.? You could do restaurant delivery 2 nights per week, and get a nice boost. Health cover should be more important than home ownership. Truck driving?
It is from a regionally accredited school. Yes, I need a second job. I am a lady in my 50's so not sure about the truck driving gig! But maybe weekend receptionist or something similar. But it is my understanding I would have to do it for two years for the income to count towards a mortgage approval (unless the tax years crossed, so maybe a little less).
I am glad to hear people are getting approved that far away - that may be my best option.
you should be working a 2nd job to earn additional income - if nothing more you could pay off the car loan early. Then accumulate funds for closing costs, downpayment, RESERVES (savings), etc.
My local Target has a lady working there who’s in her 80s. You don’t have to be fit and young to work a register. They start at $13 per hour and they’re open until late evening as well as weekends. Plus you’ll get the discount. You could easily get 20 hours per week which would be a huge boost to your available cash.
My local Target has a lady working there who’s in her 80s. You don’t have to be fit and young to work a register. They start at $13 per hour and they’re open until late evening as well as weekends. Plus you’ll get the discount. You could easily get 20 hours per week which would be a huge boost to your available cash.
To be honest, my one full-time job by itself wears me out. I don't think I could do 60 hours a week at my age for the next two years. I don't think they make that here, anyways. I think they make about $ 10/hr (which would still help, though).
I expect I will need to get back to school and get a second degree or a masters - something that will pay enough to live on.
I'd recommend making an appointment at a lending institution (bank) and talk to them. I mean, face to face, no phoning or texting.
Have your figures ready. They can give you a better idea of what they'd require to give you a loan. At this point you're the one saying no.
That 750 credit score probably wouldn't be ignored.
Something you might consider is a duplex type place: rent one, live in one.
Good luck.
I suppose it can't hurt. My credit is strong enough to take a hit from a hard credit check. I could buy something not too far away for around $120K. It would not be a great house, but decent enough.
$100K would buy me a SFH, but I would need to commute and it would probably be very rural (I don't want to be too isolated).
I tend to prefer banks. My checking and savings accounts are with the same bank as were my loans when I had them. Recently got a credit card through them. Saying them but it's actually the same bank.
I guess I'd say go to the place where you do you financial business or most of it.
If you do end up buying a less than desirable place, you could just keep it until you can build up some equity and a more solid debt/income ratio. In that case resale value would be more important than your own preferences.
$24,000 = $2,000 per month. FHA will "max out" all monthly payments at 55% of the monthly income, or $1080.
$1,080 - $800 = $280 left for any other monthly bills, so the $298 takes you over the line.
Solutions: a very slightly reduced interest rate from the lender, which can be obtained via seller concession paying to buy the rate down.
You should also look at a Home Ready/Home Possible loan, as they offer good rates and generally lower mortgage insurance (what are your credit scores?) but they come with tighter debt ratio requirements, so that is not a guaranteed option.
What scored did the lender pull for you?
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