Home Buying & Real Estate Thread

[aepps20]

Purchased a new development. Going to have my final walk through soon. Some people say that I should take my own home inspector. Do any of your guys have experience with this and what would you recommend?

I would highly recommend getting your own home inspector. If you read through some of my posts in here you will see how I was in the process of building a new home and my home inspector identified several issues that the builder wouldn't fix. The issues in the home and other issues with the builder caused me to walk away from the transaction which was an excellent move on my part.

 

[slicknick951]

Purchased a new development. Going to have my final walk through soon. Some people say that I should take my own home inspector. Do any of your guys have experience with this and what would you recommend?

I would highly recommend getting your own home inspector. If you read through some of my posts in here you will see how I was in the process of building a new home and my home inspector identified several issues that the builder wouldn't fix. The issues in the home and other issues with the builder caused me to walk away from the transaction which was an excellent move on my part.

This a couple guys had some issues with the builders in here so deff bring your own

 

[iamjusayn]

Repped
Can a realtor help me with that
Or do I have to try to do this alone

Also pics of ur challenger

FHA 203k loan for a fixer upper

 

[capital sb]

Random...Why don't people ever bring up VA loans when talking about the market crash . Everyone talks down on fha loans because they require little money down.

VA loans require no money down (no maximum house price) and I don't think the credit requirements are that high either.

Reason why I thought of this is because my mom was working on a va loan for a million dollar house they put $0 down and are now refinancing to a 3% ARM. IMO sounds like they can't afford the mortgage. I wonder how many va loans were forclosed on.

 

[HankHill]

Random...Why don't people ever bring up VA loans when talking about the market crash . Everyone talks down on fha loans because they require little money down.

VA loans require no money down (no maximum house price) and I don't think the credit requirements are that high either.

Reason why I thought of this is because my mom was working on a va loan for a million dollar house they put $0 down and are now refinancing to a 3% ARM. IMO sounds like they can't afford the mortgage. I wonder how many va loans were forclosed on.

Don't you have to be in the military or family to do get that? I'm sure that eliminates majority of the people looking to buy homes.

 

[iamjusayn]

Random...Why don't people ever bring up VA loans when talking about the market crash . Everyone talks down on fha loans because they require little money down.

VA loans require no money down (no maximum house price) and I don't think the credit requirements are that high either.

Reason why I thought of this is because my mom was working on a va loan for a million dollar house they put $0 down and are now refinancing to a 3% ARM. IMO sounds like they can't afford the mortgage. I wonder how many va loans were forclosed on.

They prob give them preferential treatment like they do everything else such as when it comes to getting a job etc. I'm not exactly sure but I will look into this but I'm thinking they probably work with them more to stay in the home or offer them some type of deal that sounds good at first but ultimately benefits the lender like lending their equity to lender to stay in home.

 

[Mark Antony]

anyone have any experiences with modular/manufactured homes? or i should say, experience with living in both site built and modular/manufactured homes

i live in az and looking to buy an acre or two. I dont really want or need a big house since im gonna be utilizing the land for different things. my only concern is that they are dirt cheap compared to a regular house. Ive looked into them and they all swear its the same exact thing as a stick built, but since i like to do all my own handy work, i dont wanna buy a modular/manufactured home and find that i have to tear half the room apart to change some wiring or something

I'd prefer them, but Oklahoma aint really up on that yet except for a few rich ritzy's by the hospital in OKC. They'll put a solar panel on your roof even for like 15 bands. Another kind of recent development is people are buying old shipping containers and there are companies that specialize into refabricating them into homes. If my next house is here in Oklahoma, I want to buy one and make a storm shelter out of it. They cost less, I've seen them go for $2000

I like the open look of these homes, they just seem like an easy jux for any real thief. I'd probably build a dope *** detached garage though.

 

[stork]

VA loans are for verterans , hence veterans affairs.

however anyone can assume a VA loan on a property.

$0 on a million dollar home, that's a clear way of saying they have little to nothing saved, guarantee the lender already knew it would foreclose in a year

 

[ekrev98]

LED illuminated mirrors

 

[krushin]

Damn man. Looking into buying my first home. Don't even know where to start. Overwhelmed already smh.

 

[willie mcfly22]

Damn man. Looking into buying my first home. Don't even know where to start. Overwhelmed already smh.

I'm no expert but first thing I would say is get pre approved for a loan...then once you know that number, research a good realtor...

 

[ekrev98]

I'm no expert but first thing I would say is get pre approved for a loan...then once you know that number, research a good realtor...

THIS.

 

[pdino]

Damn man. Looking into buying my first home. Don't even know where to start. Overwhelmed already smh.

Decide what areas you like. Are you looking for a good school district? Next to freeway? friendly neighborhood? Close to work? etc.

Then what things you want: Condo, townhouse, house, multifamily.

Garage, pool, 2 stories? how many bedrooms? baths? big backyard? etc.

I posted my experience with the home buying process while back pretty in depth

Lender is your first stop though, gather your documents: W-2s, tax returns, couple pay slips

 

[babygawd]

Damn man. Looking into buying my first home. Don't even know where to start. Overwhelmed already smh.

Definitely get pre-approved first. They'll be able to give you an estimate of your monthly payments so that you know what you're getting yourself into and what you can afford.

Then definitely think about areas that you'd like to live in. 

Once you've got a general idea of where you'd like to be then come up with a list of must haves and a list of things that would be nice to have but aren't necessary. 

Then start looking! Find a really good real estate agent that knows the area. 

Good luck!

 

[ootherocoo]

Well brothers, it's finally done.  Me wife and I closed on our home a couple weeks ago.  But with the new home, renovations, and the new baby, finally got time to make a post.

We're now in the process of renovating the first and second floors with some minor exterior work.  It's gonna be a hot summer...LOL

 

[yanky]

^Congrats!! Exciting times!

 

[aepps20]

Beautiful home my dude. Congratulations to you and your family.

 

[capital sb]

Don't you have to be in the military or family to do get that? I'm sure that eliminates majority of the people looking to buy homes.

Military or reserves, alot of people fit into this category. You can't think it's only a small handful of people. You don't have to be a vet to get a VA loan lol what is dude talking about. Active military, retired military, and reserves (6 years) qualify for VA loans. You can get an unlimited amount of VA loans as well.

When you are active you can buy a new property with $0 down at every location you are stationed at. Some people use this method to get started in real estate investing.

 

[HankHill]

Don't you have to be in the military or family to do get that? I'm sure that eliminates majority of the people looking to buy homes.

Military or reserves, alot of people fit into this category. You can't think it's only a small handful of people. You don't have to be a vet to get a VA loan lol what is dude talking about. Active military, retired military, and reserves (6 years) qualify for VA loans.

Never said it was. I said a majority of people aren't eligible for it. That's why most of the conversation and advice is geared toward FHA and conventional loans.

 

[capital sb]

Never said it was. I said a majority of people aren't eligible for it. That's why most of the conversation and advice is geared toward FHA and conventional loans.

True, I mean I still think it's a factor I'd like to see how many va loans have been forclosed on because nobody ever talks about them.

 

[nawghtyhare]

So if u get a fha loan
And after buying a house still have a lil $$$$ left over
can u use that for renovations or nah

 

[pdino]

The loan you get from FHA will be how much it appraised for. There is no extra.

You can get a 203k loan on your mortgage for renovations

 

[slicknick951]

The loan you get from FHA will be how much it appraised for. There is no extra.

You can get a 203k loan on your mortgage for renovations

This

 

[nawghtyhare]

Cool thanks for the info

 

[yvespo3]

How do you guys about using a personal loan to purchase a house? Been fixing my credit and while trying to get pre approved the banks have been telling me don't don't give home loans for under 50k