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  1. #1
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    Default lookin to buy a house

    i was wondin how i would go about buying a house with a morgage. the house im lookin at is going for a 260 thou in millrise and i got about 8 thou saved up for down payments. whats the process for all this? thx ppl

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    First time home buyers will need 5% down and a steady job making a decent income.
    Original Post NAZI Moderated


    Originally posted by r3cc0s
    Felon or Mistermeiner

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    PM'd

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    Originally posted by Khalil.e
    PM'd
    If You Need a Real Estate Pal, Call Kal

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    If u need a Real Estate Agent...PM me...I get $1000 referral
    Originally posted by GTS Jeff
    You know those bored stay at home moms who's entire lives revolve around driving their kids to soccer, various cleaning accessories, and worrying about neighbourhood rapists? The kind of people that watch the View and go "uh huh..." Those unfulfilled people who try to fill the void in their empty lives by writing whiny letters to the editor complaining about shit that no one really cares about?

    Well imagine if instead of writing that letter to the editor, she just posts on a car forum for car enthusiasts. That's Kritafo.

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    thanks guys i didn't realize my income is low i only make 1700 / mo

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    Originally posted by 240john
    thanks guys i didn't realize my income is low i only make 1700 / mo
    ya, unfortunately the house would cost more than that per month. maybe look at a condo apartment?

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    Originally posted by dj_rice
    If u need a Real Estate Agent...PM me...I get $1000 referral
    How does that work? We are not allowed by the Real Estate Council of Alberta (Real Estate's Licensing and Governing body) to give referrals to members of the general public. It can carry a large fine, suspension from trading in real estate as well as taking some continuing education courses. Very risky on the part of that agent to be offering you a $1,000 referral for business.

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    Originally posted by 240john
    thanks guys i didn't realize my income is low i only make 1700 / mo
    You can only afford a $80,000 place for now.

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    Originally posted by GoChris


    ya, unfortunately the house would cost more than that per month. maybe look at a condo apartment?
    i kinda want something with a garage tho because of the gt-r. i would hate to leave this just parked out side maybe an apartment with an underground garage would work i have to see

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    Apartment condos with underground parking start at about $140,000 (basically the price of the condo plus $10000 for the parking spot).

    You might want to look for a better paying job or sell the GT-R for a higher downpayment.

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    My fiance and I are looking at purchasing, we have talked to a realtor andthe most we can get apporved for is $150,000, and with that we can only afford a townhouse, unless we want to move to the NW/NE or Forest Lawn, which we don't. I would talk go to this website http://www.calgarybuyer.com/ and within a day or two a realtor will call you to set up a meeting and will go over everything you need to know about buying a home and you even get some books to look over everything, not to mention daily emails of places for sale in your price range/area. I would give that a try before doing anything else, you may be able to get approved for more then any website says.

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    Don't EVER buy a house anywhere near your maximum approval rate. Unless you plan on eating Mr. Noodles and cancelling your cable it will be a tough haul.

    I know someone who got approved for $280,000 and got a $280,000 mortgage. Now he sits in his half empty house on friday nights because he cant afford to go out and have a couple beer while watching the game at a pub.

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    Originally posted by three33
    My fiance and I are looking at purchasing, we have talked to a realtor andthe most we can get apporved for is $150,000, and with that we can only afford a townhouse, unless we want to move to the NW/NE or Forest Lawn, which we don't. I would talk go to this website http://www.calgarybuyer.com/ and within a day or two a realtor will call you to set up a meeting and will go over everything you need to know about buying a home and you even get some books to look over everything, not to mention daily emails of places for sale in your price range/area. I would give that a try before doing anything else, you may be able to get approved for more then any website says.
    Yes, that is just the agents personal website. Most agents can set anyone up on a daily email system that automatically emails properties to you matching your criteria. Good luck with the search

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    Originally posted by sputnik
    Don't EVER buy a house anywhere near your maximum approval rate. Unless you plan on eating Mr. Noodles and cancelling your cable it will be a tough haul.

    I know someone who got approved for $280,000 and got a $280,000 mortgage. Now he sits in his half empty house on friday nights because he cant afford to go out and have a couple beer while watching the game at a pub.

    Yeah, but most places we have found are $124,000-$132,000 in decent areas of the city, and our mortgage will only be about $200 a month more then we are paying for rent,so I don't think it will be too bad.

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    Originally posted by HRD2PLZ


    How does that work? We are not allowed by the Real Estate Council of Alberta (Real Estate's Licensing and Governing body) to give referrals to members of the general public. It can carry a large fine, suspension from trading in real estate as well as taking some continuing education courses. Very risky on the part of that agent to be offering you a $1,000 referral for business.

    can you elaborate more on that
    trying is the first step towards failure


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    Originally posted by saiyajin



    can you elaborate more on that
    The Real Estate Act says that I, as an agent cannot give members of the public cash referrals for business. Same with a transaction, we are not allowed to give cash back out of our pockets. Calgary Real Estate Board recommends any gifts given out by an agent to a client for a transaction or as part of any referral have a monetary value of $50 or less...

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