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Answers (9)
Best Answer
- wetdawgs
- Contributions:26833
If you are eligible for a VA loan or a USDA rural loan, it may be possible. The next step is FHA with 3.5% down. Is there a reason for little or no downpayment?
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
There may be some down payment assistance programs in your area. Local Realtors and mortgage professional may know of some. You might also check your state, county and nearby cities websites for more information.
Happy funding, Rudi
Happy funding, Rudi
- T.C. Whiting, "TC_at_PNC_Bank"
- Contributions:332
Outside of the USDA/VA you may be able to combine an FHA loan with one of the many downpayment grants that are out there. They are usually state, county or city specific and many lenders cannot access them.
I'm glad to look into options for you. Get in contact with me by clicking on my name.
Good luck!
- Dunes....
- Contributions:3894
annettedoll
Perhaps you'd be interested in checking out the Fed. Gov. site which has all their current Loan Programs (Fha Vet USDA ect.)
You can search for specific information, compare options, or take a short questionnaire to determine your eligibility for each program.
GovLoan.gov
Also the Hud site has excellent info and resources including links to Local State/County/City/Town Programs ...Hud
You can also use and Learn what your options are on the Sites provided to the Public by the Government and the Banks...
View the Listings, programs ect..For Free!
Sites like
HUD Homes...Fannie Mae
You can find the links to all the Gov sites here...Link
Bank sites like....Bank of America...Wells Fargo
You can find links to Bank sites here...Link
Good Luck
Perhaps you'd be interested in checking out the Fed. Gov. site which has all their current Loan Programs (Fha Vet USDA ect.)
You can search for specific information, compare options, or take a short questionnaire to determine your eligibility for each program.
GovLoan.gov
Also the Hud site has excellent info and resources including links to Local State/County/City/Town Programs ...Hud
You can also use and Learn what your options are on the Sites provided to the Public by the Government and the Banks...
View the Listings, programs ect..For Free!
Sites like
HUD Homes...Fannie Mae
You can find the links to all the Gov sites here...Link
Bank sites like....Bank of America...Wells Fargo
You can find links to Bank sites here...Link
Good Luck
- Dunes....
- Contributions:3894
The deadline for ending temporarily higher loan limits at Fannie Mae, Freddie Mac and the FHA is October 1st, but they are effectively ended now.
August 19, 2011
This Mortgagee Letter : provides notice of FHA's single family housing loan limits for Forward Mortgages and Home Equity Conversion Mortgages (HECMs) effective October 1, 2011 through December 31, 2011, provides loan limit instructions for FHA-insured to FHA-insured refinance transactions, and provides eligibility criteria and instructions for pipeline loans which have not closed on or before September 30, 2011.
August 19, 2011
This Mortgagee Letter : provides notice of FHA's single family housing loan limits for Forward Mortgages and Home Equity Conversion Mortgages (HECMs) effective October 1, 2011 through December 31, 2011, provides loan limit instructions for FHA-insured to FHA-insured refinance transactions, and provides eligibility criteria and instructions for pipeline loans which have not closed on or before September 30, 2011.
- Kristine Heilman, "kheilman"
- Contributions:28
In regards to an earlier post I made. I just recieved some information from another mortgage broker, after viewing my post, who indicated that it is not the FHA down payment that is increasing but the mortgage amounts being lowered. Does anyone else have additional information regarding FHA? Thanks for the update.
- Mark Gelbman, "Mark Gelbman"
- Contributions:222
annettedoll,
We will need more information. If you are buying in Michigan, and your credit scores are over 640, you may be able to qualify for a MSHDA down payment assistance loan. We do quite a number of these.
Thanks,
Mark
We will need more information. If you are buying in Michigan, and your credit scores are over 640, you may be able to qualify for a MSHDA down payment assistance loan. We do quite a number of these.
Thanks,
Mark
- Kristine Heilman, "kheilman"
- Contributions:28
If anyone is interested in FHA, follow up with your lender as I recently read an article that the required down payment will be increasing from 3.5% to 20% on closings after 10/31/11. Again verify with your lender.
- Mark & Miriam Babb, "MBabb"
- Contributions:13
Depending on where you are thinking of purchasing and where you live, there are programs that will grant you a DP, and forgive it over a period of time if the home is your primary residence. There are programs for current, veteran and others military types too, beyond just the VA loan program everyone know about. See the Dream Makers program on the PentagonFoundation.org website for more info on that program. Lenders generally know all or at least most of the programs in your area, and any lender should be happy to talk to you and advise you for free. Talk to a couple of them to ensure you get the whole picture.
Just need to know if we could get a mortgage with little or no money down
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