Buying A House With Family

by Home Buyer

Regarding Buying A House With Family: My husband and I are interested in buying a house with his grandparents. The home has a large garage with a second bedroom in an upstairs apartment they would like to stay in. They filed bankruptcy about 7 yrs ago and we had a foreclosure about 3 yrs ago so our credit is not the greatest. I know that our incomes combined would be enough for the purchase, but would we qualify for the loan at all?

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Kate Answers: Buying A House With Family

Hi Home Buyer, I recommend three initial steps to assist you in preparing for buying a house.

The first step to take is to figure out what you can afford. This is the spring board for buying a home and continuing to afford your mortgage payments in the future. Find help with affording a mortgage here.

Next comes credit. Fixing bad credit and maintaining good credit history is crucial to becoming a homeowner again. Now for the fun part. Mortgage pre approval starts to make buying a house feel real and eliminates unpleasant surprises.

I hope you'll come back to my website Get Your Best Mortgage Rate again in the future. Of course, all of my information is free.

So remember to bookmark Get Your Best Mortgage Rate to your favorites and visit often for up to date home buying tips, mortgage news and refinancing advice. You can also invite friends to comment on this page or create a page of their own like you did.

Best Wishes,

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You can also ask Kate about your mortgage at Ask Kate About Buying a House.

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