Posted on: 21st Jun, 2010 06:59 pm
Hi all... I'm practically clueless as to what I need to do, however, here we go...
A bit about my background:
1) I have good credit (my score is 747).
2) I am single with no dependents, I'm looking to purchase this home myself.
3) I don't intend to buy a home that is priced higher than $125,000.
4) I have a steady permanent job (been there roughly 4 years)
5) $36,000/yr income
6) I am interested in FHA loans if possible. I'd like to put as little down as possible (3.5% with FHA loan?)
7) Is the government $8,000 credit still available?
8) I'm enrolled as a part time student
Any chance there's something out there for people like me?
A bit about my background:
1) I have good credit (my score is 747).
2) I am single with no dependents, I'm looking to purchase this home myself.
3) I don't intend to buy a home that is priced higher than $125,000.
4) I have a steady permanent job (been there roughly 4 years)
5) $36,000/yr income
6) I am interested in FHA loans if possible. I'd like to put as little down as possible (3.5% with FHA loan?)
7) Is the government $8,000 credit still available?
8) I'm enrolled as a part time student
Any chance there's something out there for people like me?
Answers:
1) Excellent score that qualifies for the best rates
2) No problem
3) See #5
4) Meets qualifications
5) Adequate income assuming no/little see #3
6) Not a problem
7) No, unless you are in California; and if so, there is a $10,000 credit available.
8) Admirable but doesn't help.
"Any chance there's something out there for people like me?"
Yes.
1) Excellent score that qualifies for the best rates
2) No problem
3) See #5
4) Meets qualifications
5) Adequate income assuming no/little see #3
6) Not a problem
7) No, unless you are in California; and if so, there is a $10,000 credit available.
8) Admirable but doesn't help.
"Any chance there's something out there for people like me?"
Yes.
The tax credit isn't available anymore but, in general, it sounds like your loan is a slam dunk. I would advise speaking with a loan officer and getting pre-approved. That will entail running your credit and looking at your financials. The loan should be able to take your hand and walk you through the process.
