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Trying to buy a house and have no idea where to start!

We are buying from private party (a relative). How does a loan like that work? Can we even get a loan for that being a firt-time home buyer?


Asked by Fawn80 at 2:17 PM on Jun. 23, 2008 in Money & Work

Level 16 (2,597 Credits)
This question is closed.
Answers (2)
  • yes you can get a loan for that, talk to your bank or other banks most of them have a first time home buyer plan that will explain and help with everything from the loan to mortgage etc. they bank will check your credit and will let you know how much of a loan you qualify for, if you're not satisfied you can go to a different bank. till you get all your questions answered. good luck and by the way I'm a first time home buyer too, we just bought our house and move in 2 weeks.

    Answer by workenmom at 10:06 PM on Jun. 23, 2008

  • You might want to start by going to your finicial institute and talking with a loan advisor to find out how much you are going to be able to spend or you home. Then find a googd realtor and start looking for houses in the you price range, style, area, and so on. GOOD LUCK. It's also a very good time for buyers.

    Answer by shoegal at 2:32 PM on Jun. 23, 2008