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Profile picture for sixmileJarvo

For a first time home home buyer, who has the best program, credit score 725 +

Looking for no down payment, no pmi, no closing cost..... Please let me know if I'm asking for to much
  • April 14 2012 - Charlotte
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Answers (2)

Profile picture for poachd
Check with Key Bank for a program called "My Community"...I represented a buyer last year who was able to get approved for a $0 Down, no PMI loan. There are income limitations, certain DTI (debt to income) ratios , and property location requirements you'll need to meet. Washington Federal Savings may also have a similar program available.
  • April 15 2012
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Profile picture for sunnyview
No down payment is hard to come by unless you are going VA, a USDA loan or a specialized grant program for your state. PMI is given for most loans if you put down less than 20%. You can ask your seller to pay some closing costs, but you still generally have some cost left over to pay.

Credit score is only one piece of buying. A beginning down payment of at least 3.5% might get you on the path to an FHA loan. I would consult with a knowledgeable lender to see if there are any programs that you might qualify for and ask them what you need to buy in your specific situation. they can be a great resource.
  • April 15 2012
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