Need advice on buying a home…Please!?

Question

I would be considered a first time home owner in Louisiana…if approved. My credit isn’t the nest…I gave up a home in Maryland in 2001…but now I am more prepared and stable to own another without the mistake I made with my first.

Does anyone know of any programs that could assist me with a down payment or first time state of Louisiana home owners programs etc? With the market being in so much trouble…does anyone know of any incentives to help me…especially in Louisiana since we have so many abandon homes etc? Oh…I forgot to mention the home I am interested in…I have been renting since 2005…the owner approached me with the idea the other day…please help me…Thank you in advance I am a single parent with three kids to think of.

Answer 1

i would check with the FHA, i've included their website below..first thing i did when i was looking for my house..make sure your credit is straight..even if its not perfect, just make sure everything on ur report is legit..i had things on my report still showing balances but had been paid off..also had some collection activity showing up that was in error...also..try to find a mortgage broker and explain ur situation..they have lots of programs available and hopefully you will qualify for 1 of them..good luck

Answer 2

Please check with your local county ,  and housing authority ,

a lot of them they have first time buyer assistant program. but you have to take a class  for 4 hrs

in this class they teach you about budget issue,basic credit .

after you finish the class the issue a crt .

the county or the housing authority will give you up to 5 % of your house value as a grant.

but you have to live in the house up to 3 yrs

best loan for you is FHA LOAN

it's need only 5 % down payment,but you have to show incom taxes for 2 yrs,, bank statment for up to 2 months. and credit rate of 600 or more.



your moratage payment should not be over 30% of your total incom.

HUD HOMES ARE THE BEST TO BUY  THESE DAYS, BECUSE THEY ARE VERY CHEAP AND EASY TO CLOSE IT.

you should ask your landlord to pay for your full  closing cost.

this could range from $3000-$5000 base in your home value.

this a buyers market, and he should pay for your closing cost.

idid it for my 2 buyers last 4 months.

i hope these info will help you, please email me for free advice or help in home loan.

best wishes in your home ownership