I am relocating from New York State to Nashville in the fall. I have a credit score above 730 and am looking to buy a townhome or condo. I am interested in low down payment mortgages= whak kind of interest am I looking at paying? What kind of loan would work best? I am considering an 80/15/5, with 5% down payment on a house that will cost approximatel 85k.
How many trips down should I plan to house hunt?
Any info would help! Thanks.
2007-03-08 05:39:52 · 3 answers · asked by wickeddanibella26 4 in Business & Finance ➔ Renting & Real Estate
You can also check to see what grants and loan programs offered in TN which may help you with your home purchase. Check the link below for details.
Good luck!
2007-03-08 13:57:26 · answer #1 · answered by S C 3 · 0⤊ 0⤋
Just a piece of advice: with rising interest rates it is starting to get a lot harder to find those "low-down payment" mortgages.
Most reputable banks aren't doing more than 90/10 splits nowadays, that may be a more realistic goal.
Nashville home prices are still pretty reasonable, though, so you may be able to pull together enough for a 10%.
You can probably house hunt in 1 or 2 trips if you search places like http://www.realtor.com and the local Nashville papers like http://www.tennessean.com
2007-03-08 06:04:31 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You can access homes for sale online through the real estate offices try www.remax.com, www.century21.com
2007-03-08 05:43:54 · answer #3 · answered by Mary O 6 · 0⤊ 0⤋