Eden asked:
Not on any mortgages, but has been listed on the title on a home. Can you get into some first time buyer programs. yes, its less than three years.
Ana
Not on any mortgages, but has been listed on the title on a home. Can you get into some first time buyer programs. yes, its less than three years.
Ana
Natalie
You can get a first time buyer program as long as you have not owned a home in the past 3-5 years depending on the lender. And having your name on title would not qualify if the mortgage was not in your name.
Comment by flamingojohn — August 12, 2009 @ 10:05 am
Agnes
a lot of people label FHA, MyCommunity etc as first time hombuying programs.
you can buy a dozen houses…and still use these mortgage as long as you are goin to claim it as your primary home.
Comment by Carolinahomerates.com — August 15, 2009 @ 1:12 am
Carlos
Are you still on the title? And are you on the title because you are part owner or because you are on a deed (such as a survivorship deed)? If you are/were part owner, and it has been less than 3 years, then you do not qualify for a first time home buyer program. That doesn’t mean you can’t get a mortgage, and that it can’t be a good program. First Time Home Buyer (FTHB) programs are just easier to qualify for, it doesn’t necessarily mean it’s the cheapest financing to get. And don’t do an FHA loan unless you have to. If you ask a loan officer why they do FHA loans and a borrower isn’t around, they’ll say because you can make more money on an FHA loan and the borrower doesn’t know it. Plus the fees on FHA loans are much higher than a conventional loan (like the upfront MIP fee, wow, that puts the ‘fair’ in ‘fair housing’ doesn’t it?). Call a bank or a broker you know you can trust. If you don’t know of one, ask a family member or a friend who they used. It’s a tight market out there, and loan officers are hungry and will charge as much as they can on any loan they get. Be careful, and educate youself on the different loan programs out there.
Hope this helps!!!
Comment by Shawna Marie — August 17, 2009 @ 11:37 pm
Charles
My office is in MD. Your name on title is proof of ownership. Sorry you won’t qaulify for 1st time loans. I am guessing you are asking more for the tax break. If you are asking for the loan program, don’t worry, I can help there. We have several programs (1st time or not )that can help you.Please shoot me an email with your contact info.
You probably have seen our signs go up recently all over the state… PNC Banks
Comment by frank.norris@pncmortgage.com — August 20, 2009 @ 1:25 am