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re: First time House Buyer....advice/ suggestions?
Posted on 2/27/13 at 10:23 pm to ragacamps
Posted on 2/27/13 at 10:23 pm to ragacamps
quote:
If your job is a reflection of your degree (sales--business major etc...), you should be ok if everything else checks out.
I would say that I fall under this category. I work for a project management company and I graduated in Business Management.
So honestly I think biggest hurdle I have now is building up a down payment. I'm not as worried about the credit considering I know my score is good, and I just bought a car, so that should only help to build that up as well for the next 9-12 months.
2
Posted on 2/27/13 at 10:41 pm to Brettesaurus Rex
Watch that you don't buy too much on credit or you may not meet the requirements for debt/income ratios. A large car note and buying furniture on time could keep you from being able to afford the note on the house you want.
Also, you want to make sure you have some slack to put away something in savings in case of an emergency/maint/repairs.
Also, you want to make sure you have some slack to put away something in savings in case of an emergency/maint/repairs.
Posted on 2/28/13 at 12:38 am to Brettesaurus Rex
Where do you want to buy? Outside of BR and you can get an RD loan, even if you do want to put some down, it is not required, you can.
If in BR you can go conventional with 3% down, which with good scores will be cheaper than FHA due to the lower mortgage insurance costs.
If in BR you can go conventional with 3% down, which with good scores will be cheaper than FHA due to the lower mortgage insurance costs.
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