reno first time home buyer loans: Down Payment Assistance For Nevada Buyers
- 11/11/14 02:39 AM
Kind of old news now as many of my clients are using it but I thought I'd blog about a new form of down payment assistance for Reno home buyers. Prior to this new program the only real down payment assistance was from Nevada Rural and only worked outside of highly populated areas like Reno and Vegas. In order to help those within the highly populated areas the Nevada Housing Division has created the "Home Is Possible" program. Here's how it works: The program will give the buyer up to 4% of the loan's value for down payment or closing cost … (2 comments)
reno first time home buyer loans: Still Want All Your Closing Costs Paid For? Time May Be Running Out
- 03/15/12 02:40 AM
HUD is revisiting their idea, from 2010, of reducing the allowable closing cost concessions for FHA loans. HUD Document Here Currently, the cap is 6% which generally covers all costs associated with a home purchase minus the down payment which must be paid for by the buyer or gifted from a family member or employer. HUD's new strategy is to drop that cap to 3% or $6,000, whichever is greater. Why should you care? Typical closing costs, in Reno and Sparks, for a home under $200,000 being purchased with an FHA loan can run between 3-4% but generally end up around … (0 comments)
reno first time home buyer loans: Where Have All the Homes Gone For First Time Home Buyers in Reno?
- 02/28/12 07:58 AM
The past couple weeks have been a bit of a struggle for many of my first time home buyers. An increase in the numbers of buyer's coming into the market and the passing of AB284 in 2011 have created pretty fierce competition. Many homes that are priced right and in good condition are procuring multiple offers and selling for more than list price. Where does that leave us...? In a market with a lack of inventory that is bordering a seller's market. The last RSAR figure was that our market has 5.9 months of inventory or about an equal share of … (1 comments)
Kind of old news now as many of my clients are using it but I thought I'd blog about a new form of down payment assistance for Reno home buyers.
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