The Tucson Real Estate Forum!

I am a single mother working as a teacher and want to purchase a home. But don't think I can afford a home. I am tired of paying rent. Is there a way I can become a homeowner and not pay an outrageous mortgage? Your advice will be greatly appreciated!

Shuker I just came across this post. Are you still looking for a home?

Shuker-

There is not a better time to buy right now, even some Arizona markets have slowed in depreciation and some are even appreciating. If this is your first home, you would qualify for an FHA loan in which you would only to put down a minimal down payment. If the down payment is too much for you to afford, you could also do a lease-option with the homeseller. That is where you give them upfront option money (typically $5,000 or less) and then you have the option to buy the house in set period of time. I would try to have the term be for 3 years, but have the price locked in at today's price. Therefore in 3 years, if you still want the house you should have some equity in the home, if not then you do not have to buy and move on to the next house. Typically homeowner will allow you do whatever upgrades you want with thier house since you have the intent to buy.

Also, you could find a Real Estate Owned (REO) Real Estate Agent and they can sell you banked owned home in which you could buy it at 50% to 75% of retail value. A lot of these are in excellent shape and require very little fixup. Plus, I think you get tax credits when buying a foreclosed home.

You also may want to look to see what grants you qualify for. I believe a single mom is eligible for some grants but I'm not an expert in that field.

Good luck!

Hi, you really have a good thinking. It’s a different fun having your own house. I bought a home last year with the help of Real Cheap Estate and right now I don’t have any complains. They specialize in selling discount homes and land at affordable prices. Every home they sell can be purchased in cash or sometimes with finance!!! The balance is usually under $10,000. They also sell Real Estate Notes. Hope this will be helpful to you too.

hi Shuker, its great you are getting number of offers. I hope you are not a first time buyer. Because, although in this recession time people are buying properties due to lowered prices and rates, whichever decision you take, think twice and act wisely. For a first time buyer, buying property blindly can leverage more problems for the family. So, good luck.

You can always contact real estate investors and see if they can work out a contact with you. I'm used Lease with Option in the past with success, make sure the payments are low and you can afford them . In a few fews you can refinance out of it and put the deed into your name.

I am not real estate agent but You should consult with a real estate investor

You can always contact real estate investors

You can avail some of the housing loan program like the rent to own, I think that program has minimal interest.

Hello askmr,

Thank you for your post on the Forum. I can advise you about the program that best suits your needs.
Give me a call 520-358-9382

There are companies, private and government-owned, that caters to every government official loans such as housing program. You just have to visit the right offices for your inquiries. Real estate investors can help you too, but before making any final transaction with them, be sure that everything is well explained and clear to you. Consider the monthly mortgage, taxes and other related financial obligations you have to pay in the succeeding months after getting your own home.

Hello friend..
First time finding the right home is not an easy task.so i'm discuss few important tips for home buyer.
1. Figure out how much you can afford
2. Know your rights
3. Shop for a loan
4. Learn about homebuying programs
5. Shop for a home
6. Make an offer
7. Get a home inspection
8. Shop for homeowners insurance
9. Sign papers
It may be helpful for you...!
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Montgomery County Real Estate

Hello, Shuker
Real Estate has always been a wise investment especially when the most of the money making markets fail. Land is always safest option to store money and to earn money. So if you want to invest your capital in land property you are in the best place. Our goal is to create a win-win situation for both buyers and sellers.

Hi..
These are nice tips that are to be ensured while buying a house. This is really good to post these tips

Hi...
I do agree with this..
Yes, real estate has always been a wise investment. Land is always safest option to store money and to earn money.

Good real estate agents will listen to your wants and needs and arrange to show only those homes that fit your particular parameters. Your agent should preview homes before showing them to you as well.

Lenders now have stronger requirements, but that's a good thing, it protects the lender, the economy and most importantly it protects you. Responsible lenders want to place you with a loan you can afford to pay back. The new FHA schemes make it possible for those on low income to purchase a home responsibly.

I think with the help of some loan you can easily buy a new home so try to apply a loan and check which loan provider provides loan with less interest. like rent you pay your loan premium.

Just don't deal with this guy..

Laeeque Ahmad is famous for selling at asking price, if not for all the other scams. Maybe next do some research on people before you deal with them. Thank god for forums and blogs.