Loans By Kathy: FAQ # 6 Can I really buy a home?

FAQ # 6 Can I really buy a home?

FAQ # 6 Can I really buy a home?


Help for those wanting to buy a home often seems out of reach.  It really can be easy as just knowing the right questions to ask.  A high percentage of my business is working with First Time Home Buyers.  A significant number have said that they have been turned away and they don't know why. 

The best advice I can give a First Time Home Buyer, is do your homework.  There are great resources on the website to get you started.

If you can answer YES to the following questions, you may be closer than you realize to owning your own home:

1.      I have been employed for the last two years?

2.    I have been living at the same address for the last two years?

3.    Do you have a checking account?

You are almost there, can you answer NO to the following questions:

1.      Have you filed bankruptcy in the last 7 years?

2.  Have you defaulted on a federal debt or student loan?

3.  Do you have any judgments filed against you?

The last question is do you know your credit rating?  This is where I am able to help my clients overcome the hurdle.  I can evaluate your credit report and give you a step by step plan to get the score to a qualifying level.

So, I ask you, Are you ready to be a homeowner?



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Kathy Sheehan Senior Loan Officer






Bay Equity LLC

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11475 Great Oaks Way, Suite 350, Alpharetta, GA 30002

800.BAY.3703 Bay Equity LLC NMLS ID#76988



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The opinions and general information in this blog are soley those of Kathy Sheehan.  Specifics regarding an individual case should be discussed in detail with a loan professional.  For a confidential consultation, please feel free to contact me via phone or email.  All terms and conditions are subject to change.


Comment balloon 6 commentsKathy Sheehan • June 08 2012 06:34AM


Your blog is so informative. That is a great list of questions. This seems the perfect time for homebuyers to move and get a home while prices and interest rates are so good.


Posted by Team Honeycutt (Allen Tate) over 6 years ago

Great info Kathy. We don't take buyers out who aren't sure what they can afford and just want to go sight-seeing. No time for that!

Posted by Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400, Long Island Home and Condo Specialists (The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803) over 6 years ago

Great place to start for the first time homebuyer, Kathy.  Now, once they start the process and go under contract, so many other factors to consider to NOT sabatoge their loan process.  So many still do not know those items, nor have they been discussed with by the real estate broker or lender.

Posted by Dan Hopper, Denver Realtor / Author / Advocate/Short Sale (Keller Williams Realty Downtown LLC) over 6 years ago

Thanks Betty, I couldn't agree more!

Great policy Larry and Sheila!

Dan, I have a list of do's and don'ts!

Posted by Kathy Sheehan, Senior Loan Officer (Bay Equity, LLC 770-634-4021) over 6 years ago

Great blog! I've wasted time with homebuyers and came up with questions as well before the process begins, but I will also utilize your questions going forward. In this business you can really spin your wheels.

Posted by Lisa Coughlin (Keller Williams Realty Centre) over 6 years ago

Lisa, I like to be proactive rather than waste everyone's time and money.

Posted by Kathy Sheehan, Senior Loan Officer (Bay Equity, LLC 770-634-4021) over 6 years ago