1st time home buyer - need help

[charlotte49er]

12 mortgage tips for 2012 homebuyers

http://realestate.msn.com/12-mortgage-tips-for-2012-homebuyers#10

After you start the loan process, keep off the credit cards!

Also, know your credit scores, and have credit scores. When I went to apply for my loan, I hadn't had a charge card for over 5 years and a car loan for over 10 years. I had a credit score of "0" because of it.

[Niner National]

12 mortgage tips for 2012 homebuyers

http://realestate.msn.com/12-mortgage-tips-for-2012-homebuyers#10

After you start the loan process, keep off the credit cards!

Also, know your credit scores, and have credit scores. When I went to apply for my loan, I hadn't had a charge card for over 5 years and a car loan for over 10 years. I had a credit score of "0" because of it.

I use my credit card for everything, but I pay it off every month.

My credit scores ranged from 716-783. My first loan fell through because the condo lost FHA approval at the end of the year, so now I'm with BB&T. I hate that I've had to have my credit score pulled twice in the last month. One of the negative factors on my last credit report was 'too many inquiries.'

[natty]

I wouldn't even think about 0 down. Even with these low rates 10k right now can save you 100k down the road. Of course if the circumstances are right it can work but I wouldn't go in to buying a house expecting 0 down.

[Niner National]

I wouldn't even think about 0 down. Even with these low rates 10k right now can save you 100k down the road. Of course if the circumstances are right it can work but I wouldn't go in to buying a house expecting 0 down.

10k down will save about $7500 over 30 years with an interest rate of 4.35%, which is actually a bit higher than average right now.

For me and Arsen, we've only been out of school for a couple years and are just now starting to settle into careers. I've spent the last 2 years paying down debt and bettering my financial situation. I can afford to overpay my mortgage payments, but I can't afford to lay down much upfront without it putting me in a tough spot.