what is your plan b?

If you cannot get a loan

• Ask what you need to change to get one
• If it's a credit issue - ask how to fix it
• If it's an income issue how about a cosigner
• Consider "teaming up" with another person
• Ask your Realtor or Lender for advice

Downpayment issue?

• Have another look at your spending habits
• Consider borrowing from Family or Friends
• Maybe a "line of credit" loan is in order
• Calculate at your current rate of savings
• Deferred Comp, IRA, 401K borrowing

Current prices too much

• See when your next "pay increase" may be
• Find out the stability of the current market
• Maybe prices will reduce in the coming months
• Consider buying smaller
• Maybe a town-home/condo and not a House

Not enough to close

• Closing costs for a buyer are about 3% total
• Lenders Fee - approximately 1%
• Buyers Part of Title Insurance - 1%ish
• Buyers Part of Escrow Fee - 1%ish
• See if the Seller will Pay these or split them

Local Housing too expensive

• Consider your commute
• Is there another close by city that is cheaper
• Maybe Public Transportation can help
• Does your Employer allow telecommuting
• Job Transfer to the other "city or area"

Can't find the perfect home

• Check the Notice of Defaults
• Look into HUD Foreclosures
• Have Agent door knock area of interest
• Search by Hashtag and find a local "friend"
• Ask your Realtor if they have any pocket listings

Hire smart

• Your local Realtor will have insight
• They will help you with a game plan
• They know the BEST local lenders
• They will have other financing options
• Sometimes, sellers carry the mortgage

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