Just want to pass on the info below for anyone one on the fence of buying a home. This is a great time to buy. Financing keeps getting tighter .....read below:]
Below info. is provided by a local mortgage company...]
Until October 1st 2008 you can combine FHA Down Payment Assistance along with a $7,500 Tax Credit for any of your Buyers that have not owned a home in the Past 3 Years. FHA Down Payment Assistance will go away after October 1, 2008. Your Buyers will NEVER have an opportunity like this ever again, to buy a home for ZERO Down and ZERO Out of Pocket along with a $7,500 Credit from the Government.
Borrowers can purchase a home loan up to $271,000 with the contract structured for the Borrower to pay No Money Down & No Money Out of Pocket. We have FHA Investors that will work with Borrowers with No Minimum Score if the following conditions can be met:
1. Borrower must be able to verify Income and Job History
2. The Borrower can have collections and charge-offs, if the actual date of occurance is over One Year old (preferrably Two Years)
3. Borrower must be able to verify good Rental History for atleast 12 months
4. The Borrower must have atleast 3 Trade-Lines that have a good pay history for the last 12 months, minimum. Alternate credit or trade-lines can be used.
5. Down Payment Assistance Programs are accepted and can be used.
6. No Reserves are required, but as always, they are helpful
Let me know if you would like more information.
Thanks, Cindy Coats, Keller Williams,
214-727-7959
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