homebuyers????

[nuttinfas]

I'd like to buy my first home in the near future. I have a few things on my credit in which i am getting takin care of now. I was wondering if there was any 1st time home buyers grants out there to help with down payent or anything? are there any agent/bank people on here who can help?

[AWW$HEEET]

I'd like to buy my first home in the near future. I have a few things on my credit in which i am getting takin care of now. I was wondering if there was any 1st time home buyers grants out there to help with down payent or anything? are there any agent/bank people on here who can help?

 

go buy a hud but make sure you lowball the shit out of them. i just bid 45k on a 65k condo and won.

[KillJoy]

DO NOT BUY NEW!

 

Right now, it is a BUYERS market! If you can "do" a fixer upper... get a HUD

 

 

KillJoy

[John Bruh]

yes, but a repo. But be careful and make sure you get someone to do a good inspection.

 

 

 

I wish i would of bought my house when the market tanked.....i was 1yr to early

[2highpsi]

First time home buyer credit expired a few months ago. Prices are down now though, reflecting the drop in purchases since the expiration of the credit.

 

Deals are everywhere. Like everyone else said... Lowball lowball lowball

[oh_f@ck_its_him]

yup, i wish I would have waited! And I bought new. Granted I got quite a bit knocked off to make it worthwhile and buying new made better sense given my situation but going back I wouldn't do it again. Good luck!

[01sentrase2.0]

if you need a home inspector give me a shout.

[evan9381]

+1 on the lowball hud. i didnt, but at the same time, im glad i didnt or i would have lost it. listed at 75k, and i bid 78k. its a 2br (was a 3, i turned 2 into a large master) 1.5 ba, 1400 sq/ft that appraised for 115,300 in 07

 

guy a few houses down has same house but still a 3br, minus some renovations ive done and just listed it for 118,500.

 

if i could even get that in 5-6 years when i plan to sell, that'd be $40k profit minus what ive put into it.

[Nitrousbird]

Save back a 20% down payment and your finance rates and loan options will be far better

 

Of course a lot of folks can't do that, but at least try to have some amount of down payment saved. I had 4% when I bought my first home in 2002, but back then that was good enough for a conventional loan. Now, I don't know as we did 20% on our current home. But if you think you will get some beat up steal of a home on an FHA loan, keep dreaming. We had

enough trouble getting our loan on a bank owned that needed cosmetics with 20% down, well below our approval amount and an 800+ credit score.

[evan9381]

Save back a 20% down payment and your finance rates and loan options will be far better

 

Of course a lot of folks can't do that, but at least try to have some amount of down payment saved. I had 4% when I bought my first home in 2002, but back then that was good enough for a conventional loan. Now, I don't know as we did 20% on our current home. But if you think you will get some beat up steal of a home on an FHA loan, keep dreaming. We had

enough trouble getting our loan on a bank owned that needed cosmetics with 20% down, well below our approval amount and an 800+ credit score.

 

maybe you just got unlucky. i had to escrow like $3500 for a/c unit, roof patching, and a few other small things, and i was able to go FHA with $100 down (hud program back then) and i got 5.000% with low 700s score.. from the time i locked it in to when i closed rates only dropped down to like 4.875% or so, so it was prime rate at the time.

[AWW$HEEET]

i signed docs like two days ago and i coulda locked at 4.5% if I got under 95% LTV. ended up locking at 5.2 or something cause it was gonna cost me 2k, but only save me 30bucks a month.

[Duff1647545513]

Let me know what houses you find and like and i'll hook you up with my aunts number. She got me locked at a 3.6% with shit credit. I bought my house over 2 years ago, it was appraised at $135k and got it for $103k. I put no money down and she found some crazy rebate stuff.

[Duff1647545513]

maybe you just got unlucky. i had to escrow like $3500 for a/c unit, roof patching, and a few other small things, and i was able to go FHA with $100 down (hud program back then) and i got 5.000% with low 700s score.. from the time i locked it in to when i closed rates only dropped down to like 4.875% or so, so it was prime rate at the time.

 

I know someone that can hook you up on a/c or furnace stuff at better price

[evan9381]

I know someone that can hook you up on a/c or furnace stuff at better price

 

a) doubtful and b) its already done.

 

my brothers good friend (i actually used to be friends with him when we were kids) got me the whole unit through his work, and installed it on the side with his coworker. he did the whole thing for <$2k

[Duff1647545513]

Probably what i coulda got you. I don't know what kind of unit u got tho. I know the one in my house is a $4k unit itself and it was all in for $2k... then there was the $1500 back on taxes for the whole energy saving shit, so really it was $500

[russian rocket]

+1 on the lowball hud. i didnt, but at the same time, im glad i didnt or i would have lost it. listed at 75k, and i bid 78k. its a 2br (was a 3, i turned 2 into a large master) 1.5 ba, 1400 sq/ft that appraised for 115,300 in 07

 

im sorry i just never understood this part....why bid over the asking price, did you even try to bid the asking price?

i understand the whole part of multiple parties interested in the house, but still...i guess its just me but i would never give more than asking price.

 

 

as for the OP, just wait a few months, there are always new programs starting up, you just have to do some research on them

[Nitrousbird]

maybe you just got unlucky. i had to escrow like $3500 for a/c unit, roof patching, and a few other small things, and i was able to go FHA with $100 down (hud program back then) and i got 5.000% with low 700s score.. from the time i locked it in to when i closed rates only dropped down to like 4.875% or so, so it was prime rate at the time.

You also bought yours before I bought mine...I bought mine at the lowest point in the market, when the banks were all "paying" for their mistakes.

 

im sorry i just never understood this part....why bid over the asking price, did you even try to bid the asking price?

i understand the whole part of multiple parties interested in the house, but still...i guess its just me but i would never give more than asking price.

We bid a little over 15k more than the initial asking price. We were only a couple hundred bucks more than the next highest offer. There are homes that are listed underpriced just to get them sold quickly, and higher offers put in. And we got a steal for our home...I put 3 weeks of after work/weekend work into ours, and another 10k into it, and could have EASILY sold it back then for 50k more than we had into it. In today's market, more like 75-100k more.

[evan9381]

im sorry i just never understood this part....why bid over the asking price, did you even try to bid the asking price?

i understand the whole part of multiple parties interested in the house, but still...i guess its just me but i would never give more than asking price.

 

 

as for the OP, just wait a few months, there are always new programs starting up, you just have to do some research on them

 

i was bidding on it on the inital listing, and once it was done and over, had i bid the asking price, i would have lost. they told us what the other bids were. and for me, $3k extra to get the house was worth it. plus its not like i bid over what the house is worth. i still got it for ~37k under what it appraised for <2 years earlier.

[nuttinfas]

so what everyones opnion on maronda homes? We stopped by and talked to them, (i know everyone is saying buy used but we are in the looking stage) and they said they could do a no money down loan. They also are giving 5000$ to buy down the loan and put money towards the house. I think he said buy down the points which was about 2600 and the rest can go for a down payment.

 

We are looking at the commercial point area and that area is getting some government money. That is where the money is coming from.

[GilbWs6]

http://ohiohome.org/homebuyer/first_time.aspx

[Diamonds]

i just bought. stole it. seller brought 32k to closing.