Wilmington NC rentals, UGH! Stop renting in Wilmington NC!
Have a job? Pay your bills on time? If yes, then why are you RENTING?
With interest rates at an all time low and prices of homes at an all time low it is the perfect time to purchase a home. I know that all we hear is that banks are not lending money and how hard it is to get a loan or that you don't have enough for a down payment. That is all not true. The truth is that banks are loaning money and yes it is true that it is tougher but not impossible. There are also programs that require no money down and you can have less than perfect credit.
Here are the basics:
- You must have a job for at least 1 year
- You must have at least a 620 credit score
- Down payment is always good but not needed with some government programs
- Closing costs will be needed at time of closing for attorney, title insurance, misc. (these fees can be paid by the seller)
That is about it! You can buy a home with no out of pocket money if structured properly and with certain lending programs. If you are going to look for a new rental you would have to put up first and last months rent. You could be buying your home for the same monthly price and not have to pay anything up front. WOW!