I cannot tell you how many Realtors I have spoken to in the Kansas City Area that just cannot seem to get a buyer or potential buyer interesting in purchasing a home. The main reason seems to be the money down and the uncertainty of money. I spoke to one Realtor today that said she was sure that you could not get a mortgage without at least 20% down.
Nothing could be further from the truth. I have 1 conventional loan program for 100% but 2 government programs for no money down and flexible credit guidelines. My favorite is the USDA Guaranteed program. This program has ZERO money out of pocket at a great rate ~6.5% with No PMI.
Sure you have to be in an eligible area but First Time Homeowners don't really care if you are less than 10 minutes out of town.
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