If you want to kiss renting goodbye and become a homeowner, here are some recent success stories to uplift and inspire you.
- A single mom was stabbed by a robber and her daughter witnessed it. As you can imagine, she wanted to get the heck out of that neighborhood. Her mother co-signed for her, and she was able to buy a home in a better area where she and her daughter could be at peace.
- Bank of America turned down an application for a home loan. The borrowers went to CMG Mortgage and closed without an issue. They only needed a two-day extension. Brokers have more options than banks.
- A. homebuyer needed $3,000 in reserves to qualify. Their realtor credited them the money out of her commissions and the loan closed.
- A homebuyers with a 555 credit score closed on a home purchase with an FHA loan by using a lender that did not have a credit score overlay. In this case, they used Tonal Home Lending, but another lender without overlays is Guston Cho Associates. (An overlay is when a bank or lender places a stricter rule on top of the FHA rule or on top of the Fannie Mae rule.)
- .A married couple, both U.S. Veterans, with no credit scores got a zero down loan and used Down Payment Assistance to cover the closing costs through USA Mortgage. (It’s the lender not the VA that requires a credit score, so by using other documentation for the credit requirement, they were able to buy a house.)
- A family closed on a $180,000 home by getting $17,600 in Down Payment Assistance money and a gift from family for the earnest money deposit. (Get the Mortgage You Want Like the Pros lists Down Payment Assistance programs for all 50 states.)
Don’t disqualify yourself needlessly. Yes, there are plenty of scenarios where you might need to take some time to save money, to pay off debt, or to improve your credit score. But top tier credit is not required to become a homeowner.
Never give up on your goal of homeownership. Don’t blow your savings on a car or truck or vacation or toys! Those things decrease in value. Save for real estate, which provides security and generational wealth.
If you’re curious about what it takes to qualify or if you want a source for Down Payment Assistance in your state, then pick up a copy of Get the Mortgage You Want Like the Pros. Having the inside information can only help.
I hope you have been inspired today to pursue your dreams. If you have a question or comment, you are welcome to post. The system requires me to put my eyes on it (due to robo-scammers) before it goes live, but I will see it and respond.
