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Easy-Qualify
loan in Austin
0%
down
Michael Bluejay (the
author of the website) is offering loans to
homebuyers in Austin, Texas. Here are
the terms:
- Your credit does not
matter, but your ability to pay
does.
- No down payment is
required, though you can make a down payment if
you like, in order to lower your monthly
payments.
- Your monthly payment
will be about 1.15% of the purchase price,
including closing costs, taxes, insurance. (e.g., on a
$100,000 home, the payments would be about
$100,000 x 0.0115 = $1150/mo.).
- The interest rate is
10%, and I do not require private mortgage
insurance. We'll roll most of the closing costs into the mortgage, so they'll be part of your monthly payment, and you won't have to come up with a bunch of closing cost money at the time of the sale.
- If you already have a high-interest mortgage and would like to refinance at 10% for 30 years, I can do that too.
- These loans are
available for homes in Austin, Texas
only.
If you're able to get a bank loan you should do so, because the interest rate will be lower. My program is intended for people who cannot get a loan from a bank.
Note that you're not married to the higher interest rate forever. If you start fixing your credit with my credit repair instructions, you should have good enough credit to move your loan to a bank in two years -- and get a lower interest rate.
Contact me
at
(512)
322-0638
or use the form below.
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Have
the house inspected
Get
the inspection report
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After you've signed the contract
and paid the earnest money, you'll hire a
professional inspection company to thoroughly
examine all the house's structural
systems and give you a written report detailing any
problems found. This will cost $250+ depending on
the size of the home, and you'll pay up front. You
can find inspectors in the yellow pages. I've used
Home
Critic in my hometown of Austin, and have been
pleased with their service. The inspection takes at
least an hour, and you should attend so the
inspector can show and explain problems to you that
might be harder to understand if the only info you
got was from the written report.
 You'll
also pay a pest control company to do a termite
inspection ($75+), although the compay handling
your general inspection might also be licensed to
do a termite inspection. (Ask.) Besides the fact
that a termite inspection is a good idea, your
lender requires it -- they don't want to lend money
on a home that's rotting away. If termites are
found, don't freak out about it -- they're easy to
get rid of, though the treatment is pricey: $700+.
The only thing will be to decide who will pay for
it (you or the seller), and what methods to use.
Chemical termiticides are some of the most toxic
pesticides around, and many take years to break
down -- a consideration if you have children, pets,
or want to have a garden, or if you just have a
healthy aversion to poison in general. Employ a
company that can use alternatives if at all
possible. Here's some info on alternatives at
GreenBuilder.com,
though it appears a bit dated and doesn't seem to
include al the newest methods. In California, try
Ecola
Services, and in Austin try Term-Trol
Exterminating (512-836-3309). I advise against
Chem-Free Organic in Austin, since despite
their eco-sounding name, they actually use the
exact same toxic termiticides (e.g., DragNet®)
as regular companies -- as I found out when I hired
them on a property I bought, thinking they'd be
doing something different. In fact, they are
a regular company: Chem-Free is really just ABC
Pest Control, which has two sets of letterhead and
two different listings in the yellow pages. You can
see in their yellow pages ad that they have the
same address.
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Amount spent so
far.
Red
items apply towards the purchase.
Amounts are typical, not exact.
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$40
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Credit Check
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To the Lender
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$150
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Option
Fee
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Paid to the Seller.
Might apply
towards purchase, depending on
contract. Allows you to walk away for
any reason.
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$1000
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Earnest
Money
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Held in Escrow, probably by the
Title company
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$400
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Inspection
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To private inspection company to
find physical problems with house
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$100
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Termite inspection
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To private company; required by your
lender
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($700)
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Termite treament
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(If necessary)
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$1690 - $2390
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Total
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