There is no doubt about it. Home inspections are a must!
Even if you are able to talk a seller into your creative financing deal. Even if you do get in without having to qualify for a mortgage so there is no lender required a home inspection. You still need to inspect it.
A professional home inspection is always recommended and is about the best investment you can make when buying a new home. Have you ever seen "The Money Pit" with Tom Hanks? If not, go rent it at the video store and then seriously consider hiring a home inspector.
You still need to make an initial inspection to be certain you want the home. The seller may be selling because expensive repairs are needed. At this stage, you just don't know. So you need to find out. Read more on 7 Critical Home Inspection Tips...
Filed under Uncategorized by on Apr 12th, 2007. Comment. 
Mortgage companies have helped many people buy a home with bad credit in recent years. However, many programs that were used in the past are no longer available or have tightened their requirements. Compared to mortgages for people with good credit, those for people who want to buy a home with bad credit require:
- Larger down payments
- Higher interest rates
- Sometimes (often?) very high up front fees (points)
This has always been the case to a more or lesser degree. The big change recently is that with the rate of foreclosures increasing, lenders are classifying more prospective home owners as "bad risks" and offering them only sub-prime mortgage programs. And some lenders that specialize in mortgages for people who wanted to buy a home with bad credit have curtailed their operations or gone out of business all together.
So what are your options? Can you still buy a home? Read more on 3 Ways To Buy A Home With Bad Credit...
Filed under Uncategorized by on Apr 30th, 2007. Comment.