There is a certain State of mind that is being pasted into our collective psyche that goes something like this: "I can't buy a home now, I don't know if I'll have my job tomorrow." What? Can you repeat that please and this time really listen to the words and apply them to your current situation. If you are currently renting and you lose your job and can't pay the rent, what happens? Your Landlord evicts you, that's what happens and probably faster than a mortgage company can foreclose on you!
Yet that's what we hear in the media day after day, people are afraid to buy because of the economy. Oh whoa is us!
Don't get me wrong I know there are plenty of people out there that can't buy a home for lots of rational reasons that prevent them from qualifying but, the economy isn't one of them. Let's put on those "common sense" glasses for a moment and look at things through them. If you are renting a good size apartment, townhouse, condo or even a single family home, you are most likely paying around $1,000.00/month. Now for that same approximate monthly outlay you can purchase a $150,000 home using FHA financing.
What do you have to do different than what you're doing now? You need a downpayment of 3.5% or $5,250.00 which can come all from you or partly from you, gifted to you in total or in part from Mom or Dad, Grandma, or Uncle Joe. Your credit score needs to be 600+ and your revolving and installment debt when added to the proposed mortgage payment generally shouldn't exceed 45% of your gross(before taxes) monthly income. How many of you have I lost? I'll bet not many.
Now let's keep those glasses on and look at the market place. You would be amazed at how many good homes you can buy today for $150,000 in the Kansas City market! And there isn't a real estate agent worth their salt that couldn't get you that property with the seller paying your closing costs.
So while you still have those glasses on, call me at 816.820.4471 or go to my website at www.kcmortgage1.com and click appy now. It's all free, no obligation.