Josh Adair and Tanisha Bush
In their own words…
“We just closed on our first home. Thanks to Dan Forbes (Forbes Property Group) and Danny Smith (Caliber Home Loans). They’ve been a great help. They worked very hard and were very diligent.
“They helped us through the whole process. Everything went smoothly. And, we’re pretty happy right now.”
It’s always a joy to help first time home buyers. What many don’t know is that the definition of a first time buyer is someone who hasn’t owned a home in the last two years. That’s important to know.
Why?
Because there are many special loan programs available for first time buyers. There are what’s called Buyer Assistance Programs that actually provide either a grant or a secondary loan to help you get into a home for very little out of pocket.
I recently helped a buyer get into a home for only $500 out of pocket!
Another popular loan program for buyers is FHA. It requires on 3.5 percent down. Say you want to buy a $200,000 house and you don’t have much cash for a down payment. If you go with a 3.5 percent FHA loan, you would need to come up with $7,000.
If you’ve been in the service you are most likely eligible for VA Financing that requires ZERO down. Like the buyers above you’ll be able to get into the home of your dreams for Zero dollars out of pocket.
The mistake many buyers make is to think they have to have 20 percent down. That’s just not so for most people.
For example, read this:
“Home buying just got a lot easier. Fannie Mae and Freddie Mac, the country’s two main mortgage rule-making agencies, now allow home purchases with just a 3% down payment.
“The 97% loan-to-value (LTV) purchase program allows homebuyers to purchase a single family home, condo, co-op, or PUD without coming up with a full 5% down payment as previous guidelines mandated. Now just a 3% down payment is needed. That’s even lower than FHA requires.”
Continue reading here…
Conventional 97% LTV Program: Buy a Home with 3% Down In 2018
