where do i find information for first time home buyers disconunts, grants, closing cost help and interest rate

Question

i am looking to purcahse a condo first time home buyer for under $80,000 can i get 100% financing to cover cost and extra $ for me to pay bills

Answer 1

Find a good mortgage broker. I was in the same position you were 2 1/2 years ago, except you couldn't buy a tool shed out here for $80K.

Anyway, I found a couple of city and county programs and I told my mortgage broker about them. She found that those programs had already spent their funding, but found some good state first time home buyer assistance plans. One to help me with $25k of the down payment and one that offered me a lower than market interest rate 30 year fixed mortgage.

My realtor was the one who recommended the broker. Did my realtor get a kickback? Probably, but I studied up on mortgage lending ahead of time and the mortgage broker didn't offer me any crappy loans.

Answer 2

Your settlement could specify precisely what you want to do. you are able to say you'll pay 0.5 of the customer's final expenses as a lot as a diverse dollar quantity or as a lot as 3% of the acquisition fee. Or fantastically a lot something else you both agreed to do, see you later because it would not violate both the lender's or FNMA's guidelines. FNMA limits the quantity of final expenses the seller pays depending on the loan-to-fee ratio. And the customer won't be able to stroll faraway from a purchase order transaction with money. searching on the position you stay -- and in case you are able to tell from those questions, i do not recognize how -- the final expenses will be fairly extreme. the expenses in Texas aren't any the position close to what you'll pay in lengthy island. some expenses are fixed, no be counted what the acquisition fee is, and some are depending on the loan quantity. Do you've a real resources agent? it really is the position they arrive in accessible. They already recognize what's well-known on your section, even if you want to diminish the fee and/or pay final expenses. in case your agent isn't effective, refer to the agent's broking service.

Answer 3

Banks , Realtors, Mortgage Brokers should be able to help. A lot depends on local practices.

Answer 4

With HUD!!!!!!!!!!!!!!!!!!!!!!!
I have the best answer:
http://www.hud.gov/buying/localbuying.cfm


Great Luck!

Nadia

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P.S We buy homes with a quick turnaround in Southern California. Avoid foreclosure and bankrupcies!!!