If you missed it, read more about the true: 100% financing available in Montgomery County, Maryland.
--it's not USDA. it's not VA.
--you need to make under $82,500
--you don't have to be a FIRST time buyer
--must contribute $500 into transaction
--there is NO mortgage insurance
--you MUST have GOOD credit
Bottom line, the monthly payment is less than FHA, AND your down payment is $0. With FHA it's 3.5%.
If you ARE a first time home buyer, you may also be eligible for $7,500.
If you qualify for the above 100% program, we can most likely work it so you need $0 at closing. However, this above program WILL allow you to combine this $7,500 Grant with it. SO, if you now use the $7,500 towards your closing costs... that is $7,500 you won't need to ask the Seller for. THUS, allowing you to lower your Offer price by that same amount.
This $7,500 is available on a 5 to 1 ratio. You will need to put $1,500 into the transaction now, to get an additional $7,500 granted to you. Actually, I believe your minimum investment now went up to $1,875 into the transaction. This is truly a grant, and is forgiven after 5 years. It can be used for down payment, closing costs and/or the prepaid items.
This Grant takes about 60 days to get approved BUT we can get the process started now, as we look for homes. I'm excited to share this opportunity with you. Let's make an appointment to discuss your situation, and get you into your new home!