There was an interesting question asked today I wanted to share with you. "How can you purchase a home without a hassle if you have BAD CREDIT?" Well with new guidelines for obtaining a mortgage, The mortgage process is more complex than ever, however the banks ARE loaning money. In addition interest rates are at "all time lows".
To answer this question simply I would state that with "Bad Credit" you will indeed need to put down a higher amount as a down payment to compensate for that low credit score.
Most first time buyers may not have a larg donw payment to put down so what are their choices?
GET PREQUAILIFIED with a local and Trusted Loan Officer. The biggest factior in buying a home is whether you can get a mortgage, how much they will loan you, how much you will need for a down payment and the closing costs and lastly what price range you should be looking in.
What if you can not get PREQUAILIFIED right now? A "GOOD" loan officer will let you know what you need to do in order to get a mortgage in the future. Start by paying all your bills on time. Then try and lower the total amount you owe to below 1/2 of what your credit limits are. Do not close accounts and refrain from opening new ones.
There are several types of mortgage programs. Some like VA or USDA call for no down payment, to FHA with 3.5% or conventional loans with 5% down. Closing costs average 3-5% of your loan amount. Most programs allow the seller to pay 3% to 6% of the mortgage amount towards your closing costs.
Your next step....
HIRE A BUYER AGENT: Here in NH a buyer can usually hire a buyer agent at no cost to them. The Buyer Agent gets paid their commission from an amount the listing agent has possted in the MLS. As a buyer you really should have an agent who guides you through EACH step of the Buying process. If you are in NH call me, i will do my best to help and guide you.
HOW DO YOU KNOW HOW TO HIRE A BUYER AGENT?
1. Choose a FULL TIME Agent. You want an agent whose sole job is working in Real Estate. You want to make sure they are available when needed to answer questions or be guiding you through the buying process.
2. Choose a Full Service Agent. Sure discount brokers may charge slightly less but you can get substantially LESS in the service you receive. You want someone guiding you trhough EACH step, not just the easy one's leaving you on your own through teh harder or stressful ones.
3. Choose a LOCAL agent. Too many agents from out of town and even out of state are looking for you to hire them. They may not know your area, your neighborhood, not know your children's schools, where you shop, which church you go to and may not be able to be there on a moments notice when needed.
4. Choose an Experienced Agent. Not every agent is experienced with all types of homes, areas and types of sales. Choose an Agent that is Experienced in SELLING Homes. It is what we do and what we do well.
5. Choose an agent who will ASSIST YOU THROUGH EACH STEP of the Buying process. There is nothing worse than being left to fend for yourself. Your agent should be there through each step, answering your questions, guiding you and giveing you peace of mind.
WE STRIVE TO PROVIDE THE BEST POSSIBLE SERVICE THROGHOUT EACH STEP OF THE LISTING AND SELLING PROCESS!!!
If you are thinking of buying a Home please contact us. We offer you assistance to get a free pre-quailification for a mortgage,along with some of the BEST CUSTOMER SERVICE through each step of the Buying Process
Please call for a FREE MARKET ANALYSIS to let you know what the value of your home is.
If you need to sell your home and you owe more than your house is worth, i may be able to help. I specialize in working with home owners to get your home sold. There are many options such as a short sale whcih may be able to help you.
Please try and avoid out of state or out of town agents and companies that make "out of this world promises". We are local agents with experience who never charge any up front fees. WE GET RESULTS!!!
We stand by you through every step in selling your home.
MY RECENT NEIGHBORHOOD REPORTS
1. Spotlight on GRANITE HILLS CONDOMINIUMS in Hooksett NH
2. Spotlight for the EASTWOOD CONDOMINIUMS in Manchester NH
3. Spotlight ON DERRYFIELD GREEN CONDOMINIUMS in Manchester NH
4. Spotlight for the PATIO TOWNHOUSE CONDOMINIUMS in Manchester NH
5. Spotlight on WILLOW BLUFF CONDOMINIUMS in Manchester NH
PLEASE SEE MY "TOP" TIPS FOR BUYING A HOME
PLEASE SEE MY "TOP" TIPS FOR SELLING A HOME
ONE OF NEW HAMPSHIRE'S LEADING AGENTS FOR SHORT SALES AND BANK OWNED HOMES...
If you are Looking for a Real Estate Agent you have come to the right place. Scott Godzyk is a Full Time and Local agent ready to serve all of your Real Estate needs through each step of the buying or selling process. We are proud to be locally owned and operated.
If you owe more than your house is worth, If you are behind in your payments, I may be able to help. Call me to find out how you may be able to sell your home at no additional cost to you.
Scott Godzyk is the Owner/Broker of The Godzyk Real Estate Services located in Manchester NH. With 25 years of Real Estate experience Scott specializes in Listing and Selling Bank Owned Homes, Short Ssles, Residential Properties, Condominiums, New Construction and Investment Properties. Scott services the counties of Hillsborough, Merrimack, Rockingham and Belknap. To contact Scott Godzyk please call 603-661-2121 or email sctprop@aol.com. his website is www.ScottSellsNH.com.
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