I want to increase affordable family housing in my town and do not have a down payment and am challenaged finiacially. I heard there r grants avaible but not sure of the details
2007-05-30 04:54:33 · 3 answers · asked by pheonix F 1 in Business & Finance ➔ Renting & Real Estate
I don't understand your question
Are you looking for an affordable place to live?
or Are you looking develop and build affordable housing?
Please respond.PP
2007-05-30 05:03:31 · answer #1 · answered by ttpawpaw 7 · 0⤊ 0⤋
Yes there are grants through Ameridream or Neiamiah which is not repayable. Sometimes, the city also offers grants/down payment assistance.
The best thing to do is actually see how bad your credit is. Consumers have a tendency to view their credit as horrible when, in most cases, it is not.
If your credit is indeed dire with todays mortgage market constraints then you will have to take a bit of time to establish positive credit. There is no quick fix for this. Positive credit takes time to reflect in your scores. Bad issues on your credit (such as open derog accounts) must be resolved so they will stop updating bad reports on your credit every month.
So, long explination short- Get with a mortgage broker/banker. Let them review your credit. Most have the experience to know how you can get your scores up with Mortgage Tools such as Rapid Rescore & What If Scenarios from their credit report providers. This will help you lead the way to better credit and getting into your home with little to no money down!
2007-05-30 05:02:43 · answer #2 · answered by Deme21 2 · 0⤊ 0⤋
The best place to check on grants and first time buyers assistance programs is with the city Housing office. They would have a list of programs they have in your city as well as a list of mortgage brokers or lenders that you can contact to get the programs.
These lenders or mortgage brokers will also qualify you for the programs.
If the city does not have the necessary programs, in most cases the city will refer you to the county.
The county will do the same thing. They will give you a list of the programs and the mortgage brokers and lenders that are qualified to administer the program.
I hope this has been of some use to you, good luck.
"FIGHT ON"
2007-05-30 05:05:36 · answer #3 · answered by loanmasterone 7 · 0⤊ 0⤋