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Answers (9)
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
Thanks for the compliment Dunes.
Happy funding, Rudi
Happy funding, Rudi
- William Metzker, "MrLiam"
- Contributions:210
The state programs are out of money and so are most local ones. In Portland, contact the Portland Housing Authority at http://www.hapdx.org/. FHA still has a 3.5% down program, and USDA has some 100% rural loan programs.
Note that anyone buying at these low down situations will be underwater for a few years if prices don't shoot up, so be sure you plan on staying in the home for a while, okay? :)
Note that anyone buying at these low down situations will be underwater for a few years if prices don't shoot up, so be sure you plan on staying in the home for a while, okay? :)
- Dunes....
- Contributions:3894
Rudi.....
Thanks..
It's my belief that if people use the resources available to become as informed as possible then they will Decide to use Reputable and Professional Services provided by someone like YOU instead of the Sleazy Gaming BSers one so often finds at the Top of Ranking & Review platforms provided by Sites like Zillow/Trulia ect.....
I can do that Loan at 1.1% and my fees are 3 Dollars plus I'll give ya a ride on my Yacht..Check out my 4387 5 Star Reviews I've received since last Thursday..call me LOL
Stupid Gamin Sleaze Bags!!!!
Thanks..
It's my belief that if people use the resources available to become as informed as possible then they will Decide to use Reputable and Professional Services provided by someone like YOU instead of the Sleazy Gaming BSers one so often finds at the Top of Ranking & Review platforms provided by Sites like Zillow/Trulia ect.....
I can do that Loan at 1.1% and my fees are 3 Dollars plus I'll give ya a ride on my Yacht..Check out my 4387 5 Star Reviews I've received since last Thursday..call me LOL
Stupid Gamin Sleaze Bags!!!!
- Greg Flowers, "Greg Flowers"
- Contributions:32
This is a great time to be a first time home buyer! It is a rare occasion when home prices and mortgage rates are at historic lows at the same time. Lucky you! My first home mortgage interest rate was 16.875% (1983). Current administrations were helpful last year on stimulating home purchase programs, but this year have turned to helping the economy with job creation instead, so there are not as many programs available.
Some of the "old favorites" are still available for you in California:
CHAFA-3% down state program allows for high qualifying ratios
MCC-Additional mortgage credit helps increase your ability to qualify
FHA-3% down and allows financing of mortgage insurance into loan
VA-100% financing and low closing costs.
There may be some local city home purchase stimulus money available through your local Housing Authority. Start there first and ask. Be prepared to provide 3 years tax returns as evidence you are a first time homebuyer.
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
Great links Dunes. TU.
Happy funding, Rudi
Happy funding, Rudi
- Michael Dolan, "BrokerPro"
- Contributions:277
Depends on the nature of the "help." First-time home buyers can get a loan like anyone else. If the issue is down payment, the FHA program is a viable option. It's also possible to get a conventional loan with 5% down and avoid some mortgage insurance costs associated with FHA.
- Dunes....
- Contributions:3894
Arthur
Here is a Link to the Fed. Gov Site for all current Fed. Loan Programs...FHA/USDA/VET ect.
GovLoans,gov
You can get specific information, compare options, or take a short questionnaire to determine your eligibility for each program.
This Link will take you to the HUD Site where they Provide Links to Local Homebuying Programs...Local Homebuying Programs
You may be interested to know the Government and the Banks have created websites for the public to use for FREE and to have current updated information about the Properties/Foreclosures/REO's available and information about LOANS, the Process they use, available programs ect..
For the Government a person can use the Site they provide which provides links to all the Sites they have.... Homes for Sale
Sites like...Hud...Fannie Mae ect....
The Banks have also created sites like...Bank of America...Wells Fargo
Here are links to a few sites that provide the links to the Bank Sites
Link...Link...Link
I would also suggest checking out this site for finding public Records....Free Public Records Directory
Good Luck
Here is a Link to the Fed. Gov Site for all current Fed. Loan Programs...FHA/USDA/VET ect.
GovLoans,gov
You can get specific information, compare options, or take a short questionnaire to determine your eligibility for each program.
This Link will take you to the HUD Site where they Provide Links to Local Homebuying Programs...Local Homebuying Programs
You may be interested to know the Government and the Banks have created websites for the public to use for FREE and to have current updated information about the Properties/Foreclosures/REO's available and information about LOANS, the Process they use, available programs ect..
For the Government a person can use the Site they provide which provides links to all the Sites they have.... Homes for Sale
Sites like...Hud...Fannie Mae ect....
The Banks have also created sites like...Bank of America...Wells Fargo
Here are links to a few sites that provide the links to the Bank Sites
Link...Link...Link
I would also suggest checking out this site for finding public Records....Free Public Records Directory
Good Luck
- Jeff Nunley, "Jeff Nunley CMPS"
- Contributions:23
Arthur,
This is a great question. In our area there are several loan options available. FHA is always a good option and has failrly easy qulaifying and only 3.5% down with a great rate.
If you find a Fannie Mae foreclosure you can use the Homepath product. This product is a special Fannie Mae loan designed to help buy up their inventory. It has easy qualifying, no apprasial and as little as 3% down with no mortgage insurance.
If you buy outside the Eugene/ Springfield urban growth boundaries you may qualify for a Guaranteed Rural Housing loan. This loan offers 100% financing and no monthly mortgage insurance.
Fianlly, there are loan programs available for moderate income first time buyers in both Eugene and Springfield. In Eugene, the program is called HAP and in Springfield it's the SHOP program. HAP is currently out of funding and funds typically come available on July 1st. SHOP may still have money. Feel free to cantact me if you wnat contact on these programs or any other.
This is a great question. In our area there are several loan options available. FHA is always a good option and has failrly easy qulaifying and only 3.5% down with a great rate.
If you find a Fannie Mae foreclosure you can use the Homepath product. This product is a special Fannie Mae loan designed to help buy up their inventory. It has easy qualifying, no apprasial and as little as 3% down with no mortgage insurance.
If you buy outside the Eugene/ Springfield urban growth boundaries you may qualify for a Guaranteed Rural Housing loan. This loan offers 100% financing and no monthly mortgage insurance.
Fianlly, there are loan programs available for moderate income first time buyers in both Eugene and Springfield. In Eugene, the program is called HAP and in Springfield it's the SHOP program. HAP is currently out of funding and funds typically come available on July 1st. SHOP may still have money. Feel free to cantact me if you wnat contact on these programs or any other.
- Billy Alt, "Alt Group Las Vegas"
- Contributions:66
Hello Eugene,
There are many different options available in todays market for First Time Home Buyers. I would check with your local lenders because states sometimes have grants, and down payment assistance programs available. Nationally FHA offers as little as 3.5% down payment and Homepath loans(www.HomePath.com) offer as little as 3%. The local experts in your paticular area will know about any special programs available. Here in NV we have the Nevada bond program that allows the first time home buyer to take out a second mortgage to cover up to $4500.00 of down payment and or closing costs. In some cases we were able to get some of our clients into a property for $0! Good luck!
Billy Alt
Realty World Luxury Homes Las Vegas
There are many different options available in todays market for First Time Home Buyers. I would check with your local lenders because states sometimes have grants, and down payment assistance programs available. Nationally FHA offers as little as 3.5% down payment and Homepath loans(www.HomePath.com) offer as little as 3%. The local experts in your paticular area will know about any special programs available. Here in NV we have the Nevada bond program that allows the first time home buyer to take out a second mortgage to cover up to $4500.00 of down payment and or closing costs. In some cases we were able to get some of our clients into a property for $0! Good luck!
Billy Alt
Realty World Luxury Homes Las Vegas
What loan programs are available to help first-time homebuyers buy a home?
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