looks like my deal on a house is falling through

[heatherrae]

Then scoop it up for less.

can't get the financing right now b/c only been at work here for less than a year, etc. He was owner financing it.

 

[jnevin]

can't get the financing right now b/c only been at work here for less than a year, etc. He was owner financing it.

But you can show a history in the same line of work for an extended time right?

 

[gotmilk]

could be worse, I signed a contract on a huge house I was going to flip...major money maker. Then the Radon test came back.

9.6 on the first, 10.4 on the second.

 

[heatherrae]

But you can show a history in the same line of work for an extended time right?

I've been an attorney for 8 years.

I would need to save for a 20% down payment if I want to buy a house now though. The skinny is that banks aren't doing 100% loans anymore. I haven't been saving enough yet for this. I don't want a loan with a high interest rate either.

I will have to wait if this one falls through.

 

[heatherrae]

And that's some of the stupidest fucking "logic" I've heard in a while.

Yes, the guy isn't very savvy. I want to explain to him that they can put a judgment lien on his farm after the deficiency balance on the foreclosure ANYWAY!

 

[jnevin]

I've been an attorney for 8 years.

I would need to save for a 20% down payment if I want to buy a house now though. The skinny is that banks aren't doing 100% loans anymore. I haven't been saving enough yet for this. I don't want a loan with a high interest rate either.

I will have to wait if this one falls through.

You could do an FHA loan. They only require 3% down and some lenders are still allowing downpayment assistance programs where the seller can basically gift you the 3% through a charity (legit).

 

[Lestat]

ahh wow, those are some big clouds.... sorry

 

[heatherrae]

You could do an FHA loan. They only require 3% down and some lenders are still allowing downpayment assistance programs where the seller can basically gift you the 3% through a charity (legit).

I make a good salary. Is their an income ceiling?

 

[miplank]

You could go with a TAMI loan...you can do as little as 5% down if you want.

 

[rnch]

parential assistance?