hi I got approved for a loan however there is no way i can come up with the closing costs and down payment because of limmited income. know of any way i can get help for this? thanks
this is for pennslvania thanks
2007-02-13 02:50:33 · 6 answers · asked by . 3 in Business & Finance ➔ Credit
Get approved for a 100% loan with the company below
2007-02-13 09:17:03 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Don't buy a house then. If you can't at least afford a few thousand in closing costs, you shouldn't buy a house yet. Even with a fixed rate loan the payments will increase because taxes go up every year. There are also increased maintenence costs. There is much more to affording a home than qualifying for a loan. If you can't save up enough to pay closing costs at least then it is really a dangerous thing for you to buy a house. (And yes, I know closing costs can vary widely, but you can shop around and negotiate of some of the fees. There is normally no reason to pay tens of thousands of dollars in closing costs.)
2007-02-13 03:12:58 · answer #2 · answered by rosekm 3 · 0⤊ 1⤋
Ask your lender generally there are grant programs available for those who qualify. You could also ask the seller to pay closing. I should add you dont have to have a down payment when buying a house. Good luck I am in the process of doing the same thing.
2007-02-13 02:53:56 · answer #3 · answered by ♥♫♥ Crystal ♥♫♥ 4 · 0⤊ 0⤋
I,m sure you will get closing money costs for your new home,i,m going though same as you good luck
2007-02-13 18:52:47 · answer #4 · answered by pattibcacl 6 · 0⤊ 0⤋
Some lenders will let you add that in there.
2007-02-13 02:53:37 · answer #5 · answered by mdlbldrmatt135 4 · 0⤊ 0⤋
whoever is writing your mortgage should have all the resources at hand to refer you.
2007-02-13 02:53:33 · answer #6 · answered by David B 6 · 0⤊ 0⤋