We are first time home buyers in Florida and are looking for the best option for down payment assistance. We have already been pre-approved for a mortage.
2006-06-23 03:02:36 · 6 answers · asked by VeSpAfReAk 1 in Business & Finance ➔ Renting & Real Estate
There are a wide range of programs available for down payment assistance. Your loan consultant should be able to give you an overview of all of them. Ask about special state bond programs, and any federal assistance programs. I think Ameridream and Dreamhouse are both national but I am certain that will be some that are local for you.
Also ask you loan consultant about 103% and First Horizon's 107% loans. The rates are slightly higher but they will also cover some or all of your closing costs.
2006-06-23 03:56:21 · answer #1 · answered by Anonymous · 2⤊ 0⤋
I used Ameridream, combined with 6% seller assist I had no out of pocket closing costs.
2006-06-23 03:06:54 · answer #2 · answered by master_akhkharu 3 · 3⤊ 0⤋
USDA Rural Development has grants. Have your agent give you their number.
Have the down rolled into the loan.
Have a relative give you a cash gift.
Consult your Real Estate Agent.
2006-06-23 03:06:51 · answer #3 · answered by Anonymous · 2⤊ 0⤋
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2006-06-23 12:27:23 · answer #4 · answered by Anonymous · 0⤊ 1⤋
If you have been pre-approved for a mortgage, then why are you looking for down payment assistance? The mortgage application should have asked you the the amount of down payment you have and what the source of those funds are. Did you tell the truth on your mortgage application?
2006-06-23 03:11:00 · answer #5 · answered by ps2754 5 · 0⤊ 9⤋
Hard work and saving.
2006-06-23 03:06:46 · answer #6 · answered by Anonymous · 0⤊ 6⤋