Skip to main content

Buying a house

Hello,

I'm so new with buying a property right now. I have some question about it.

This is will be my first time buying a house. I have bad credit score. I'm trying to build my score now by getting into a FDR program and get rid all of my credit card and unsecured loan. It's been a struggle for me since I made a lot of bad decision since my divorce financially.

I was able to increase my credit score from 16 point in 1 month, because I started paying off my credit card that has low amount.

As right now I'm making about 75k/year. I'm not sure how much credit score to I need to get to buy a house. Me and boyfriends are planning to move in together and I'm working on paying my debt before we are buying a house together.

I probably should take to some expert about it. And I'm not sure where do I start? I need a lot of help with this.

I think financially I will be much more better this year because I have get rid some of the responsibility that draining my money. I'm trying to save $500/month so I can at least be ok in 6 months. And working overtime hopefully and make more money to tackle some of my debts. With the FDR (Freedom Debt Relief), I hope I can pay off my debt in less than years because as right now it's a 60 months program.

Will I be able to buy a house in 1 year if my credit score go up to 670 in a year? I don't understand anything about it. And real estate is getting expensive now days.

Last year, I got approved ove for FHA loan for 100k with 3.5% down payment. I didn't have the 3.5% down payment because after my divorce and helping family in the past 15 years, I can barely save any money.

submitted by /u/Noonecareswhatever
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1hwghrn/buying_a_house/
Labels:

Comments

Post a Comment

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...
Post a Comment
Read more

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/
Post a Comment
Read more

Making offers on houses not listed for sale.

I want to buy a home for retirement. I am looking at lots of options, mostly focusing on the locations that appeal to me. I see lots of Zillow estimates of homes that look like great deals to me. Are these estimates accurate, even though similar houses in the same area that are for sale are usually priced much higher? If so, is it realistic for me to try to make offers to owners that do not have their homes listed? Would a realtor even consider helping me do this? Or, do these values indicate that the houses listed for sale are overpriced, and I should just lowball until someone accepts? Are houses today tending to sell far below list prices, or ??? submitted by /u/chewybrian [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1o4mcon/making_offers_on_houses_not_listed_for_sale/
Post a Comment
Read more