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- Aug 11, 2001
Guys, I'm trying to purchase my first house. I been on Zillow for like the last month searching and there are soooooo many DECENT foreclosed houses in the area where I want to move to for like $20-$25K. Can I afford a more expensive house? Yes, yes I can. However, I'm a man who believes in living well below his means. I'm single with no kids and plan to stay this way for quite some time. A $25K house would be perfect and it would leave me with a mortgage of $200 give or take.
I went to my Credit Union to try and get some info and they explained to me they only deal with Home Equity Loans. They gave me a number of the lender they send everyone else to. I call their lender and talk to a gentleman. He explains to me what I'm doing is definitely a good idea especially at my age (27). It's hard here in Cleveland and the neighboring small cities. People are getting booted out of good homes left and right. I can cash in on one of these homes for a steal. Our conversation concludes with the gentleman explaining while I'm definitely on the right track, unfortunately they don't give out $20K loans SMH. If I was trying to buy a house for $60K then he'd be able to help me out. He suggested I also go to banks in the area of the home and see if they'd give me a loan since they're entitled to or something like that.
Now I'm back at square 1. A buddy of mine suggested I try to take out a "personal loan" from my Credit Union. Before I go that route, I decided to come and ask my NT brethren and see if you guys have any suggestions for me. Please hit me back with ANY info that you feel would help me in my quest.
P.S. My credit score is 713 (needs to be at least a 640). I have less than $3000 in debt and I make fairly decent money. These are the questions most people ask me so I'll provide the info to y'all...
I went to my Credit Union to try and get some info and they explained to me they only deal with Home Equity Loans. They gave me a number of the lender they send everyone else to. I call their lender and talk to a gentleman. He explains to me what I'm doing is definitely a good idea especially at my age (27). It's hard here in Cleveland and the neighboring small cities. People are getting booted out of good homes left and right. I can cash in on one of these homes for a steal. Our conversation concludes with the gentleman explaining while I'm definitely on the right track, unfortunately they don't give out $20K loans SMH. If I was trying to buy a house for $60K then he'd be able to help me out. He suggested I also go to banks in the area of the home and see if they'd give me a loan since they're entitled to or something like that.
Now I'm back at square 1. A buddy of mine suggested I try to take out a "personal loan" from my Credit Union. Before I go that route, I decided to come and ask my NT brethren and see if you guys have any suggestions for me. Please hit me back with ANY info that you feel would help me in my quest.
P.S. My credit score is 713 (needs to be at least a 640). I have less than $3000 in debt and I make fairly decent money. These are the questions most people ask me so I'll provide the info to y'all...