Is there any lenders out there that can qualify 1st time home buyer with a FHA loan, no money down purchase?
1st time home buyer looking for 100% percent financing on a 350k loan in california credit is 640 and 600 income is 6000 per month combined.
Tags: Buyer, Down, Home, Lenders, Loan, Money, Purchase, qualify, there, Time
2011/11/16 at 23:39:12
Good finance question! I know of an organization that gives up to $1500 to people to help them with their rent or mortgage. It’s available in most US cities, I highly suggest you check it out.
http://www.money-for-house-mortgage-rent.org
Best of Luck.
2011/11/16 at 22:51:18
FHA requires 3% down. There are down payment assistance programs available but are being phased out by FHA. An alternative is the My Community programs that will finance 100% with comparable rates to FHA. These are perfect loans for first time home buyers.
http://www.lendermix.com/my_community_loan_programs.htm
2011/11/16 at 22:25:32
My husband and I were told for a FHA loan we could do one of two things.
1) the loan officer wants us to ask the seller to give us 6%
3% for the downpayment and 3% down for closing cost but if that does not work
2) we pay the 3% down and ask seller to pay closing cost.
GOOD LUCK!!
2011/11/16 at 21:54:56
Here are many first time home buyers programs available. You may start by calling the city Housing Office in your city or the county housing office