get some governmental help to finance a home. I am in my final phase of med studies, and will be off to residency in a year, was planning on buying a townhouse or a single family instead of shoving money into rental-any thoughts? thanks!
2007-02-21 04:13:29 · 4 answers · asked by ria k 2 in Business & Finance ➔ Renting & Real Estate
to lizzgeorge: i don't appreciate shoving my tax dollars towards ppl that are living off of welfare so i don't see why i should have to pay for someone else's free loading lifestyle when i should qualify for my hard earned assets! that's the problem most of you think that being a dr is instant money! it's not, certainly not when you are not planning on marrying a man for support or marrying money period! i am actually living on my efforts, my means and that's that! you are no one to judge or get offended!
2007-02-21 05:37:31 · update #1
i also have student loans which may infringe on my ability to consider buying a home. i didn't think that ppl would get offended hearing a dr would consider special financial assistance but the beginning of any career coming out of school is rough, that's all...i just wanted to know if there are programs that help ppl regardless of what they do for a living but for ppl who don't want to get help from family, etc, to be able to do this task of buying a home on one's merits-thanks lizzgeorge, you always make the world a happier place...lol
2007-02-21 05:41:46 · update #2
You could get into a HUD program. If your income falls in that bracket you would qualify. You can also check with your bank or go to lending tree.com to see what you could qualify for on your own first. I am a single parent of 2 with student loans and I was able to get a loan through the bank. The bank loan officer shopped around for me. If you could put anything down it would help. Good luck to you!
2007-02-21 04:23:34 · answer #1 · answered by Angela N 2 · 1⤊ 0⤋
You don't need a special program!! Single people are buying homes in droves these days--in fact, single women now make up 22% of all home buyers (compared to 9% of single men). Real estate agents and lenders know this, and they are scrambling to cater to single women (and men). Check around in your city; many real estate agencies offer free seminars on home buying specifically for young women. I am 23, single, a recent grad, and just bought my first condo with no hassle whatsoever.
If you need financial assistance, there are all sorts of special loans (like 100% financing) that lenders are offering now. I don't necessarily recommend them, but they are out there. I think you should be able to save at least 5% for a downpayment, or you aren't ready to buy.
Also, I am kind of shocked and a little offended that a highly educated person like yourself who is about to be making quite a high salary is even considering governmental assistance. I don't really want my tax dollars going towards your $300,000 townhome payments, thank you very much. No offense.
2007-02-21 04:22:30 · answer #2 · answered by lizzgeorge 4 · 0⤊ 2⤋
Fannie Mae. Freddie Mac. Just two quasi-government agencies that assist (albeit in different way) with loans to people who otherwise would be unable to get loans.
2007-02-21 04:21:54 · answer #3 · answered by Jay 7 · 0⤊ 0⤋
you can see if you qualify for a low interrest rate morgage thru Fannie Mae . .
2007-02-21 04:17:07 · answer #4 · answered by Rainy 5 · 0⤊ 0⤋
Habitat for humanity
2007-02-21 04:19:41 · answer #5 · answered by Anita G 5 · 0⤊ 1⤋