Buying A Home
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- unknown
I am in the process of gathering up my hard earned creative bucks to make a home purchase.
If anyone has recently gone through something similar, could you drop in your 2 cents about the process. How to get the best mortgage rate? Best type of loan? Pitfalls and charges to avoid or look out for? Or anything else that would make for quality knowledge to possess in this big and important process.
thanks,
bB
- unknown0
My friend bought a house last month, his credit was not good enough, the bank guided him through the whole process, the bank considered some of their downpayment a "donation" or "gift" , the goverment helped them a lot on their down payment, you might get diferent views from people here with a house, but they were guided by specialists in the subject, don't get loose end information, get your facts straight and go ask the bank, lots of info on this, friends told my friend he would never get a house with his credit, now he owns a $90,000 home, and in Florida is a lot of house for the money!
Good luck!
:)
- ********0
I can tell you as a home owner, myself, that it's not easy, major pains, but financially speaking you are much better off owning your own place. Good luck.
- ********0
I mean going through a brokerage firm can be quite scary. Are you going for some home loan or just paying outright? Mortgage? What, what?
- PeterNorf0
Definitely find someone trustworthy in your area. For instance, don't take advice from a New Yorker on how to buy houses in Florida....On second thought that is a bad analogy. If your buying a house in Florida try finding a 40+ New Yorker with connections in Miami, just don't become his best friend.
Don't take advice from an eskimo on buying an adobe hut either, hopefully we have learned something todfay and that is don't ever take advice form PeterNorf!
- pocho0
Man, it is worth it. Do you have a credit union? If not, check into it. I paid a broker 250 refundable bucks to find me a tasty mortgage loan. In the meantime, my credit unions first time home program gave me a great quote with NO PMI (mortgage insurance...total rip-off).
The broker said that he couldn't even come close. No PMI (which adds a chunk of change to your mortgage) in the SoCal housing market was a real find.
- Mick0
I'm doing the same thing in about 6 months time :)
- CyBrainX0
I bought my coop in Manhattan in August of '99. That has a lot of differences than buying a house, but one thing in common. They will take 2 weeks to do anything for you. Expect to learn new levels of incompetence and evil. They wouldn't lift a finger to flick a tarantula off your face.
Prepare to have your patience tested. On the bright side. The interest rates are rock bottom now.
- Fast|Runner0
+ don't get taken by shady contractors - learn from a pro: http://www.holmesonhomes.com