zero down financing: FHA changes: Are you ready as a Realtor or consumer? - 09/02/08 10:11 PM
Effective 10-01-2008: No more seller assisted gift funds programs
Effective 01-01-2009: FHA min down will be 3.5%
Question: What other options do we have??
According to HUD letter 00-28 #4155.1:
Parents or family can still gift the entire 3.5% Parents, believe it or not can literally get the money from any place (pawn shop, credit card, whatever) to gift to their kids. Cash on hand up to $3000 (mattress money) can still be used as sourced funds You can get a loan against an asset even from the seller and even on the subject property in the form of a seller … (5 comments)
|
zero down financing: USDA Guaranteed Home Loans - 100% Financing with No MI! - 07/18/08 04:33 PM
Despite the gloom and doom in the marketplace there are still plenty of great financing options.
One such program is especially attractive, if not the most attractive of all 100% financing in the marketplace today. The program I refer to is the USDA Guaranteed Home Loan.
"It is simply hard to compete with the USDA Home Loan." - Tony Jones, USDA client closed 7-02-08
USDA is designed to stimulate rural development. Properties must be located in eligible rural areas. By definition, generally towns with a population of 20,000 or less that are removed from urban centers.
I live … (3 comments)
|
|
|
|
;)
;)
