| Question |
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how do I go about getting a first time homeowners loan?
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| By
Brydon P |
Posted on
06/02/06 Total Answers
6 |
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| Answers- |
| Talk to banks, realtors, check to see if your city offers any programs to help you. Also check out www.naca.com They are a non-profit housing advocacy group that do their own fixed rate mortgages. |
| Answer by :
sunshine_today On Date
2006-06-02 18:05:24 |
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| apply for one. If your numbers are GOOD... You're in. |
| Answer by :
stanleys_2001 On Date
2006-06-02 18:06:14 |
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| go to the bank and ask the front desk |
| Answer by :
j dog On Date
2006-06-02 18:06:31 |
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| Fannie Mae / Sally Mae... one of those two can help you get going |
| Answer by :
RUNINTLKT On Date
2006-06-02 18:06:47 |
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| Go to a bank that you trust. Alot banks have special offers for first time homebuyers. And if you're on a tight budget, check with your state as well. I know that New York state has a program for people who don't make much money yet want to purchase their first home. |
| Answer by :
spanking_englishmen On Date
2006-06-02 18:11:14 |
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| Try secondary market. Ask about sellers concessions. Sellers concessions help you with closing costs on your mortgage. Beware though...don't let too many people pull your credit. This will make scores drop. By law, if a mortgage company cannot help you, you can ask them to provide you with a copy of your report. They may charge you their cost for it, but it is worth it. Key points: 2 year housing history, 2 year work history, Good scores, and estimate your debt to income. Take all your monthly debts including what your new house payment, taxes and insurance will be, or are estimated to be and divide it by your gross income. Most companies must have a DTI of under 50% in order to help you. This is a good way to tell what size house to look at. The more you know walking into the door of the mortgage company, the better you are. Some things to take in with you: last 2 years W-2's, last 2 pay stubs, last 3 bank statements, write down at least the last two years housing history,(and if rental include dates, names and phone numbers). This will be a great help to the loan originator and processor and speed the time frame you get your pre-approval back in. |
| Answer by :
Mustang Sally On Date
2006-06-02 18:18:26 |
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