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Need step by step on buying our first home

jantany26 Posted: Jun 02, 2005 10:07 AM+

jantany26 MEMBER SINCE: 9/03 TOTAL POSTS : 8305 WEDDING DATE: Oct 14, 2010

Posted: Jun 02, 2005 10:07 AM

Re: Need step by step on buying our first home

in terms of mortgages, which would be the best if our credit is not that good?

103005FallBride Posted: Jun 02, 2005 11:53 AM+

103005FallBride MEMBER SINCE: 2/05 TOTAL POSTS : 7249 WEDDING DATE: Oct 30, 2005

Posted: Jun 02, 2005 11:53 AM

Re: Need step by step on buying our first home

This is great! Definitely one post I'm saving for after the wedding... $$$$ <---Why doesn't it grown on trees!

wilandnet Posted: Jun 07, 2005 06:47 PM+

wilandnet MEMBER SINCE: 4/05 TOTAL POSTS : 140 WEDDING DATE: Aug 19, 2006

Posted: Jun 07, 2005 06:47 PM

Re: Need step by step on buying our first home

WOW! This thread is great! Thanks to everyone who been through it providing some great feedback.

Danielle&Scott Posted: Jun 07, 2005 09:35 PM+

Danielle&Scott MEMBER SINCE: 8/03 TOTAL POSTS : 8806 WEDDING DATE: Aug 14, 2004

Posted: Jun 07, 2005 09:35 PM

Re: Need step by step on buying our first home

What should you expect if you are dealing directly with the home owners? Lets say you are buying a for sale by owner. Do we still need a lawyer or do we deal directly with the bank and the mortgage broker? Danielle and I have no idea.
Thanks,
Scott

Eireann Posted: Jun 07, 2005 10:59 PM+

Eireann MEMBER SINCE: 7/03 TOTAL POSTS : 390 WEDDING DATE: Mar 19, 2004

Posted: Jun 07, 2005 10:59 PM

Re: Need step by step on buying our first home

Yes, Scott, you still need a lawyer. We are in the process now of buying from the homeowner...luckily DH is a real estate atty!

Danielle&Scott Posted: Jun 08, 2005 06:55 AM+

Danielle&Scott MEMBER SINCE: 8/03 TOTAL POSTS : 8806 WEDDING DATE: Aug 14, 2004

Posted: Jun 08, 2005 06:55 AM

Re: Need step by step on buying our first home

Ok cool. I figured we would still need a lawyer. Now to find a good lawyer that wont rip us off.
Scott

bridget&jimmy Posted: Jun 08, 2005 10:44 AM+

bridget&jimmy MEMBER SINCE: 6/03 TOTAL POSTS : 2571 WEDDING DATE: Nov 19, 2005

Posted: Jun 08, 2005 10:44 AM

Re: Need step by step on buying our first home

I know a very good lawyer if anyone needs one, we have used him in the past and he is great.

Danielle&Scott Posted: Jun 09, 2005 06:41 AM+

Danielle&Scott MEMBER SINCE: 8/03 TOTAL POSTS : 8806 WEDDING DATE: Aug 14, 2004

Posted: Jun 09, 2005 06:41 AM

Re: Need step by step on buying our first home

Well we got a mortgage broker, a lawyer and an engineer too. I wrote down a bunch of things I want the engineer to check out.

Now to put in the offer the owner wants. We are going to make a decision this week...Its sooo stressful.
Scott

melijane Posted: Jun 09, 2005 05:18 PM+

melijane MEMBER SINCE: 6/04 TOTAL POSTS : 255 WEDDING DATE: Jun 18, 2005

Posted: Jun 09, 2005 05:18 PM

Re: Need step by step on buying our first home

If you do not have good credit try for an 80/20 mortgage. No down payment your first should be somewhere in the 6's and the second will probably be 8-9%