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I've had bad credit, and I don't have much for a down-payment. Can I become a homebuyer?
  • Answer: You may be a good candidate for one of the federal mortgage programs that are available. A good place for you to start is by contacting one of the HUD-funded housing counseling agencies. They can help you sort through your options. In addition, contact your local government to see if there are any local homebuying programs that might work for you. Look in the blue pages of your phone directory for your local office of housing and community development or, if you can't find it, contact your mayor's office or your county executive's office.

Home Buying FAQ's

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Table of Contents
 

Why should I buy, instead of rent?

I've heard of HUD homes. What are HUD homes, and are they a good deal?

I've had bad credit, and I don't have much for a down-payment. Can I become a homebuyer?

I'm a single mother. How would I go about buying a home?

Should I use a real estate broker? How do I find one?

How much money will I have to come up with to buy a home?

How do I know if I can get a loan?

How do I find a lender?

In addition to the mortgage payment, what other costs do I need to consider?

So what will my mortgage cover?

What do I need to take with me when I apply for a mortgage?

I know there are lots of types of mortgages - how do I know which one is best for me?

When I find the home I want, how much should I offer?

What if my offer is rejected?

So what will happen at closing?

Source: U.S. Department of Housing and Urban Development

 

 

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© 2003 Consumer Guides at consumer-guides.info (Home Buying FAQ)