meisha k asked:


I’m a first time home buyer, and I’m buying a small, inexpensive home which will require no mortgage or loans. In researching about closing costs, it seems that they’re related to the mortgage and lender fees. If I have no mortgage or lender, are there still closing costs, and if so, what would they be for? Thank you

first time home buyer loan

jacodenn7 asked:


I am about to flip out. I saved money for years and finally had enough to get a loan to buy me and my fiance a home on march 31, 2008. I recently lost my job and now she is having a tough time paying the mortgage. They just passed a bill to GIVE first time home buyers a 15000 dollar tax credit, that does not have to be repaid, but It is for homes purchased on april 9, 2008 and later. So I missed this by 8 days? This is so not right, why wouldn’t they just say for the whole year of 2008. We have almost zero funds now and we aren’t going to get anything? Is there anything I can do? Thanks in advance

first time home buyer loan

Java asked:


First time home buyer.
Wondering how much I should ask for a pre-approved mortgage.
If I asked higher amount, seller/developer will know that I can afford higher price, so they won’t go down on their price.
If I asked smaller amount, if I am interested in a property that is priced higher than my pre-approved, will they entertain my negotiation?

first home buyer loan

bigmommamitch asked:


Can I still get the $8000 first time Home Buyer credit if I purchased my home in 2006 but received a modification from my mortgage company in 2/2009 so my loan has stated over again). It has still been under 3 years that I have had the home.

first time home buyer loan

dustinkinney007 asked:


Right now, I live at home and am satisfied with my current housing status, with my family I grew up with. I am Single. I am in my mid 20s. And, I have never owned a Home before. (but am – entertaining the idea because of the $8K possibility and flipping it in 3-5 years) However, I have a Goal (Dream) of getting married one day, and owning a home, with a Family of my own, but don’t feel ready with the idea of Home Ownership right now. The possibility of $8k and Flipping it would be my Primary Motivators…..

*I have a Steady Part-time Job, not Great, but (makes about 10K/yr)
*I have Good Credit. Always have Paid my Credit Card in FULL.
*I have Some Savings. Not willing to say, exactly, but at least a Years Worth of Income…. And – No Debt. I am not Rich, obviously I would need a Loan.
*Possible Benefit of: 8K, for a first time home Buyer.
*Possible Benefit of: Renting out Rooms to other people while I live there, as a Primary Residence.
*Possible Risk of: Incurring Debt. I don’t feel Comfortable with the Notion of it. I am Risk Adverse, at Heart.

Should I pass up an Opportunity of a Lifetime? Or, rather, wait until I may be ready for Home Ownership? I have until December 1, 2009 to decide.

first time home buyer loan

yourtruckerfriend asked:


Im a first time home buyer. I am a otr driver. I am out working 355 days a year. I take 1 week off to visit family back home.

The dept of transportation allows me to deduct from taxable income a flat rate of 45? dollars for everyday im out on the road..away from my home state.

I claimed about 37.00 a day..itemized on my return.
I also have other deductions to my taxable income.

The issue is.. my mortgage broker is stating that the underwriter is making me show my tax returns for 07 an 08 to see IF i qualify for a home loan.

I made 53k , i had 20 k in deductions. I couldve taken more but thats a gray area , recpts etc.. anyway..

i am NOT a self employed person.. i have w2s. I applied to the underwriter , got approved for 72k.

I negotiated the purchase price, and such.. got my loan down to 56k seller contribution of 2k, add in an 8k rehab loan, brings my tally to 64k, add in 12k closing etc.

bottom line. my mortgage guy locked me a rate at 5.5 fixed 30 etc. amaZing..its till the 1st of march..

Our closing goal is the 20th of feb.. as i said i had a preapproval.. i signed a contract , (theres alot more details about the contract).. paid for inspection, and appraisal. now mortgage guy TIM.says he put off ordering the survey as i may not qualify now..

I ask why am i being forced to show tax returns, just because my occupation is trucker?.. if i made 53k a year and say paid rent equal to my truck pmt.. 652 , and ,my util budget is 232 a month.

I make around 4144 a month. I gotta eat, like eveyone else..only i get a tax break on daily expenses.. meals etc.

My mortgager lied to me saying an appraisal had been ordered when it has not ..that was 9 days ago.. now i found out that the realtor.. MY realtor stated ..c.mort group has ordered the appraisal, then see hand writen
order but am told by morgage co. that it wasnt ordered.

everyone else whos not a *truck driver..gets to take w2s to fha and show bills etc, get a loan.

but for I .. i am required to show all my tax return even tho i am not self employed and i get most of my tax pmts back by itemizing.. well the house sits and i am left with 725 spent for inspection and appraisal and now even tho i had a prequal letter, a signed contract and 30 days into the process.. my mortger says i dont qualify..

is there a way around this. thru it..etc
The purpose of buying a home now is the market, my age and family needs.

I plan to be home more and my work is slowing down a bit.

Ive been a driver for 7 years. didnt want or need a home, stayed out on the road.
cheaper. independant

now.. my family has no housing.. i have the ability to have a full house again.
and yes..tax deductions.. equal amounts better investment..
the reason the underwriter is asking for
the returns…because i stated truck driver as job.

i also wonder..could it be also because im female?

if only my ahem.experienced mortgage broker listed me as

freight engineer
or relocation specialist
or professional commodity relocator..?

im just barely at the qualifying line. as Tim says.
hes asking if some of my *depreciation? can be added back.. like half my meal per diem deductions.

im 130 lbs 5.5 , healthy.. i do not eat 45 dollars of food a day. lol. but i am allowed to deduct it.

im wondering what would happen if i ammended my return , gave back the piddly 2k i got in refund pay taxes..lol

thanks for the support.. i really appreciate someone elses view of this
i am not self employed. thanks for the confirmations on the tax return question. as for being a tax evaider. ha. not.

i worked 355 days this year. worked holidays and also a team driver. yeah it cost me 20000 to make 53.

oh btw.. i redid what my taxes wouldve been if i claimed only 8000 in perdiem for the year.. i would only owe 350 over what i PAID..bummer.. guess i could ammend my return. NOT.

my net income is 29k after redoing the taxes. i would have to give back 2005.00 and another 350. this is being considered. i have time to get more capital. im actually 2 weeks ahead of schedule as per the contract. but..i would rather have the writer make the adjustment on thier end. less paperwork. and i dont want to give up 2k. i do have till april. spose i could sell my soul to irs and take the buyers credit. use the money to tidy up my ammended return? whatever..

first home buyer loan

cinerella19772 asked:


for a first time home buyer trying to get a loan for a down payment

first time home buyer loan

jeff m asked:


i am a first time home buyer with fair credit due to high credit but have made my payments on time for 5 years.my question is are there any programs(lenders) out there that would give additional money on a home loan to clear other debt and just allow you to work with one payment

first time home buyer loan

Mike C asked:


First time home owner…owned home for 1 yr. thanks

mortgage rate

Love you M.J. asked:


My husband and I are thinking about buying a new home. I heard before that there are programs for First time home buyers, and that the government will help to buy a house. Also I heard about FHA! And I really want know if FHA was a Loan or money given by the government. Because the last thing that my husband and I is a loan! Also if anyone has any advice for us. Please that will be great.

first home buyer loan