Thread: I want to buy a house

10K is a bit low these days. Go to see some "by owner" and ask for owner financing.

There are a number of loan programs that can work with $10,000 or lower, depending on how much you need to borrow, what your condition your credit is in, and other circumstances. I can refer you to a mortgage lender in your area if you would like more specific info about what you qualify for.

Also, I can refer you to qualified buyer's agent that works in your area. Please contact me if I can be of any help.

10k may or may not be enough...depends on your area, the amount of the home, etc. Ask for closing costs by the buyer, look into First Time home buyer programs and see if your area has any type of grants that can be given to suplement your funds. It can be done with a knowledgeable real estate agent and talented mortgage broker.

If you don't buy the house the right way, you will throw money away in interest anyway. I would buy a house you can afford on a 15 year note. You need to have money for an emergency fund after you buy, so that doesn't leave you much to purchase with. Your payment needs to stay at no more than 25% of your take home pay. You can move up in house later when you build some equity and savings. Good luck.

I would recommend looking for properties that need a little TLC. Don't look at something that needs structural work but a Woman's touch. You could get a good deal that way.

You could also do a rent to own on a property. This is a way for you to get into a property with your 10K or less and not have to pay a lot in closing costs. You might be able to find a place to put down 5k and then use the other 5k for fix up. Paint, carpet, and some light fixtures or drapes could do a world of difference. You could call For Rent places and see if they would be willing to sell you the house with owner financing or on a land contract.

Good luck,
JCDykes
Western PA's home buying company

FHA 203B or 203K my friend go get it. Call a local Wells Fargo Home Loan Center and ask about their 203 loans. All you will need is closing costs, also look up ameridream - if your credit isn't stellar forget everything I said, rent, and wait.

Well i do understand your problem.But would suggest you to go and consult some good real estate consultant who can understand your requirements and help you make the best deal.One of the well renowned consultant i would suggest you is Axiom Estates.They are professionals in their field and will help you to find a house .Suiting to your budget they have different deals.I would like you to suggest them as they ll be able to help you much better.

While talking to consultants might be helpful, the more people that you get involved in the buying process, the more people that you will need to pay at closing. If you can find a "real estate" attorney and a motivated seller or landlord, you can safely say that you could save about 10% to 13% of the cost of the house. Possibly more if you can get owner financing from the home owner.

Good luck with your search. I would be happy to help give you more pointed suggestions if I understood your full situation.

JCDykes
Western PA's home buying solution

There are quite a few programs available depending on where you are at. Many of the programs I know about are called "rural development" programs which are essentially an extended version of FHA. FHA is basically for first time home buyers or buyers with low credit ratings. The rural development programs are a way of getting people into areas of growth so the government can better the financial position of the area. Email me if you want to know more.