Attn Home Owners Personal Question-Is it possible to buy a home with $30,000 for a home about 350--400k

wacky Posted: Dec 03, 2003 09:08 AM

Attn Home Owners Personal Question-Is it possible to buy a home with $30,000 for a home about 350--400k

It doesnt seem like a lot I know, but is it feasible?

cooky11111 Posted: Dec 03, 2003 09:14 AM

Re: Attn Home Owners Personal Question-Is it possible to buy a home with $30,000 for a home about 350--400k

I believe the least amout is 5% down but I know you can get better rates with 10% down and 20% down they have no income check loans. My husband gets big bonus which is a permanant bonuses but they don't count them so we had to get a no income check loan.

MarcellaBella Posted: Dec 03, 2003 09:16 AM

Re: Attn Home Owners Personal Question-Is it possible to buy a home with $30,000 for a home about 350--400k

I think you can DEF do it....you just need the right mort. broker.

wacky Posted: Dec 03, 2003 09:20 AM

Re: Attn Home Owners Personal Question-Is it possible to buy a home with $30,000 for a home about 350--400k

Thanks ladies for your quick responses. If thats the case then we can start looking by the spring.

Holy guacomole let me cross my fingers

Suzanne Posted: Dec 03, 2003 09:25 AM

Re: Attn Home Owners Personal Question-Is it possible to buy a home with $30,000 for a home about 350--400k

Wacky,

FM

wacky Posted: Dec 03, 2003 10:50 AM

Re: Attn Home Owners Personal Question-Is it possible to buy a home with $30,000 for a home about 350--400k

Thanks Suzanne

Becky Posted: Dec 03, 2003 11:19 AM

Re: Attn Home Owners Personal Question-Is it possible to buy a home with $30,000 for a home about 350--400k

Definitely I only put 3% down on mine.

wacky Posted: Dec 03, 2003 11:35 AM

Re: Attn Home Owners Personal Question-Is it possible to buy a home with $30,000 for a home about 350--400k

Oh thanks Becky. I guess you can do it.

luvsun27 Posted: Dec 03, 2003 12:13 PM

Re: Attn Home Owners Personal Question-Is it possible to buy a home with $30,000 for a home about 350--400k

Wacky....FM

wacky Posted: Dec 03, 2003 01:04 PM

Re: Attn Home Owners Personal Question-Is it possible to buy a home with $30,000 for a home about 350--400k

thanks luvsun I responded

Thanks ladies.. For all your honest responses

jennbaby Posted: Dec 03, 2003 01:09 PM

Re: Attn Home Owners Personal Question-Is it possible to buy a home with $30,000 for a home about 350--400k

Wacky, question, don't yell but if you do this won't your mortgage be sky high?

wacky Posted: Dec 03, 2003 01:10 PM

Re: Attn Home Owners Personal Question-Is it possible to buy a home with $30,000 for a home about 350--400k

Jenn we can afford a higher mortgage we just cant seem to get a downpayment together.

I wouldnt yell

wacky Posted: Dec 03, 2003 01:11 PM

Re: Attn Home Owners Personal Question-Is it possible to buy a home with $30,000 for a home about 350--400k

And you know I have friends who out down like 15% on houses and their mortgages are under 2k. So I dont know, I give up

jennbaby Posted: Dec 03, 2003 01:16 PM

Re: Attn Home Owners Personal Question-Is it possible to buy a home with $30,000 for a home about 350--400k

Yea I know people the same way, it's wierd.

Suzanne Posted: Dec 03, 2003 01:26 PM

Re: Attn Home Owners Personal Question-Is it possible to buy a home with $30,000 for a home about 350--400k

Remeber the mortgage is based on interest too.. so my payment would flux a couple of HUNDRED dollars between a 6% and an 8%.

wacky Posted: Dec 03, 2003 01:32 PM

Re: Attn Home Owners Personal Question-Is it possible to buy a home with $30,000 for a home about 350--400k

Thanks Suzanne. Ive come to realize that we are poor.

peabody Posted: Dec 03, 2003 06:27 PM

Re: Attn Home Owners Personal Question-Is it possible to buy a home with $30,000 for a home about 350--400k

wacky, just remember there are closing costs on top of your down payment.

wacky Posted: Dec 03, 2003 09:41 PM

Re: Attn Home Owners Personal Question-Is it possible to buy a home with $30,000 for a home about 350--400k

Thanks ladies, Im etting ready to slit y wrists

cluelessbride Posted: Dec 04, 2003 02:30 PM

Re: Attn Home Owners Personal Question-Is it possible to buy a home with $30,000 for a home about 350--400k

Wacky, you can even get a NO DP mortgage - I checked it out and it's not too bad. And SONYMA mortgages (at least one of them) requires only 3% down.

You might try looking now, because even though it looks like you don't have a big DP, interest rates may rise and so what you can get now with a low DP may be the same rate that you would pay if you waited 6 months.