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DOWN PAYMENT ON A HOME AND THENNN...?

OKAY SO I KNOW IVE ASKED FOR HELP FOR THIS BEFORE BUT IVE HIT A WALL. I RUN CREDITS AT MY JOB, IVE NOTICED THAT YOU DONT HAVE TO HAVE GOOD CREDIT TO BUY A HOME BY GOOD I MEAN IVE SEEN PEOPLE WITH 515 BUYING A HOME. I FOUND OUT THAT WITHIN 4 WEEKS ILL HAVE ENOUGH TO PUT 6% DOWN ON A HOME. I WANT TO TAKE ADVANTAGE OF THE TAX BREAK THIS YEAR. SO WHAT DO I DO?! MY CREDIT ISNT PERFECT...BUT IM WORKING ON IT. AND IT IS IMPROVING, IT ALREADY WENT UP 30 POINTS FROM LAST MONTH...SO KNOWING ILL HAVE ENOUGH FOR A DOWNPAYMENT (AND I KNOW WHAT PRICE RANGE THE APARTMENT I WANT IS IN), WHAT DO I DO NEXT. AND HOW DO I FIGURE WHAT MY MORTGAGE WOULD BE INCLUDING MY LOAN PRINCIPLE. (IF I GOT A $66,000 LOAN). YOU LADYS HAVE BEEN GREAT HELP BEFORE, SO ID FIGURE ID TRY AGAIN!!!

 
sweetstkissez22

Asked by sweetstkissez22 at 5:26 PM on Aug. 3, 2009 in Money & Work

Level 19 (7,070 Credits)
This question is closed.
Answers (4)
  • Talk to a lender. Interest rates have gone down again:) If you just want a ballpark of what your principal, interest, taxes and insurance(PITI) will be you could use a mortgage calculator. Good luck!!


    http://www.bankrate.com/calculators/mortgages/mortgage-calculator.aspx

    theutilitarian

    Answer by theutilitarian at 5:31 PM on Aug. 3, 2009

  • You need to talk to a lender.
    gdiamante

    Answer by gdiamante at 5:39 PM on Aug. 3, 2009

  • Find a mortgage calculator online. Also use the what can I afford calculator to make sure what you think you can afford is in the recommended range. After you do that it's time to talk to a lender and they can help you out a lot.
    SylviaNCali

    Answer by SylviaNCali at 8:25 PM on Aug. 3, 2009

  • You need to speak to a lender. I don't know anyone that would lend to someone with such a low credit score.
    Anonymous

    Answer by Anonymous at 8:33 PM on Aug. 3, 2009