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1st Time Home Buyer Q&A and Guide

By
Real Estate Agent with Reliant Realty in Nashville, TN TN License# 00232013

Talking about being lost?  I remember buying my first home, and having no idea where to start.  I spoke to a banker, and he said, "Have you found a house?"  I spoke to a realty agent, and she said, "Do you have your financing?"  I went back to the banker, and he said "Do you have any credit?"  I went to the local Savings & Loan, and was told, "You need money for down payment and closing costs!"  I gave up--for a while; but not for long.

I went back to the realty agent and asked, "How much is the house?"  I went back to the banker and asked, "How much are the payment on that house?"  I then asked the banker, "How much money do I need for a down payment? and "Do I make enough money to qualify?"  I was told that I made enough to qualify for the payment, BUT (1) I had too much other debt, and (2) I had no credit."  Frustration!!!

Can you identify with my experience?  Would you like to hear about Mr. Lykins? and how he got me into my first home?  Would you care to post your "horror story" here?

Skipping past the end of that story, allow me to say, "Those events occured in 1974, and were my first steps toward a career in real estate sales and finance.  It is now approaching 35 years later: twenty-five invested directly in real estate sales and finance.

While the direct focus of this blog is first time home buyers in Middle Tennessee, it is open to anyone, anywhere.

 

 

 

Posted by

Fred Cope, Reliant Realty, Nashville, TN -- (615) 587-3500 -- http://www.LookingForHomes.org --30 years experience in real estate and finance