Getting ready to buy a home? Our home buyers guide can provide answers to many questions about the home purchase and financing process. Arranging a home loan or home loan alternative is not the only requirement to complete the home purchase process. Please review our home buyers guide to find answers to many commonly asked questions.
Home Buyers Guide – Frequently Asked Questions
1. Do I need good credit to qualify for the home loan alternatives at HomeLayaway.com?
No. HomeLayaway.com has been designed to provide home buyers with home loan alternatives specifically for this reason. We specialize in helping home buyers that have bad credit, no credit or damaged credit. If you are unable to qualify immediately we can work with you to improve your credit score until you can qualify for our home loan alternatives.
2. I have a prior bankruptcy; can I still qualify?
Prior bankruptcy, foreclosure or repossession can still be accepted.
3. I have a prior foreclosure; can I still qualify?
Prior bankruptcy, foreclosure or repossession can still be accepted.
4. I have a prior vehicle repossession; can I still qualify?
Prior bankruptcy, foreclosure or repossession can still be accepted.
5. Do I need a down payment to buy a home using the home loan alternatives at HomeLayaway.com?
You must have a down payment (usually a minimum of 3% of the total purchase price). The total down payment will depend on many factors including your credit score, employment history, annual income, monthly debt payments and the purchase price of any property you select. Our home purchase specialists will discuss these factors once your initial pre-approval request is received.
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6. Are there any fees or costs to apply for the home loan alternatives at HomeLayaway.com?
Yes. We require a non-refundable processing fee of $20 with your initial application. Once you are approved there is a non-refundable monthly program fee of $45 to cover our costs to locate a suitable home or alternative financing for your needs. Once a home or alternative financing is obtained and selected by you there is a final non-refundable processing fee of $150 due before you move-in to the new home. These fees are required to cover the time and costs we incur to find a suitable home or alternative financing for you.
7. Are the home loan alternatives at HomeLayaway.com available in all US States/Cities?
Yes. Our home loan alternatives are available nationwide.
8. Why are there so many fees for the HomeLayaway.com program?
Unlike some companies HomeLayaway.com will take the time to personally search and negotiate terms on a home or alternative financing for you. We take many different factors into account when searching for you home including your location, size and financial preferences. This takes a significant amount of time and effort on the part of the HomeLayaway.com staff. The fees charged are designed to cover the costs and time we incur to locate a home or alternative financing for you. Your payment of our fees is used to show that you are a good credit risk to potential lenders and property owners.
9. How long does it take to locate a home or alternative financing?
The timeframe for locating a home or alternative financing will vary depending on your personal circumstances, location and home preferences. In some cases it can take as little as 2 weeks. More often it can take 1-2 months or longer. The HomeLayaway.com housing and finance professionals work as hard as possible to make the timeline short.
10. What type of home can I get with the HomeLayway.com housing programs?
Once you have been approved and all initial fees have been paid our housing specialists will attempt to secure a home or alternative financing for your home purchase. The type of home available is very open depending on your personal preferences and circumstances. We can locate almost any type of home you desire (or alternative financing for a home purchase). The timeline to obtain a home or alternative financing will be extended if you have a large number of specific requests.
Our goal is to provide you with home loan alternatives that will work with your credit situation. Get started by completing the pre-approval form below: