So how low can you get your house payment if you need say a 3 bedroom 2 bath home with a double garage.......really low! I bet you will never guess......
Recently, I was lucky enough to help a young woman purchase a home using 3 different types of lending, all working together.
These three lenders, Rural Development, Alaska Community Development (HOP) and Cook Inlet Lending, all were fantastic!
My client got an amazing mortgage using these three lenders together. It’s wonderful how this can work for you as a consumer. However, there are few things that you need to know:
1) You’ll need to have good credit and a good job. If you are not sure, call me and I will get you in touch with a lender so you can check.
2) You must meet certain income criteria
3) It is a lengthy process, so be patient, lots of hoops, but none insurmountable.
4) Some of these programs have repayment schedules if you sell before a certain amount of time. Make sure you understand the program.
But once that is out of the way, house hunting is just around the corner. Use these programs, they are out there, they do work! Let me know and I will be happy to help you!
HINT: she bought a home for $187,000 and her payment including taxes and insurance was $516.00 per month!