Monthly Archives: January 2011

Buying A House

How To Buy A House With A Bad Credit Rating

How To Buy A House With A Bad Credit Rating

How to buy a house with a bad credit rating is not as hard as most people think. If you think that you need a lot of money to buy a house with bad credit, you are wrong. You can always use zero money down methods to buy a house with bad credit, and you can use the house to live in, or for commercial use. Let me walk you through some of these basic steps to this method.

What are you going to need to buy a house zero money down? I am going to explain this all as if you know nothing about this, nor do you have any prior knowledge, EASY!

First of all you will need to understand that many, many, many people all over the world are buying properties every single day with no money down, and with bad credit. This of course means that you can do this too! All it takes a little spine to do it, and I think that you most likely can come up with a little courage to spare somewhere.

On of my close friends recently came to me and asked me if I would like to sell him one of my properties on a contract for deed, or a lease with an option to buy. So I told him that being good friends all they way back to little league baseball, I told him I would be more then happy to sit down with him and discuss some options to get him into one of my many homes. (He was looking to live in this house.)

About a week later I sat down with him and we had a honest conversation about me selling him one of my homes. Now, my friend didn’t know much about buying a house, he has never done anything like this before. I simple explained to him that I was willing to sell him a home for ,000 dollars and that I was going to give him a 25 year amortization. (for those of you with no prior knowledge, amortization means life of note-loan) At 8.5% interest he had a hard time saying no to me.

 

We both agreed to the terms that we had discussed for him to buy a house with bad credit. Now that we have a buyer and a seller what is next? I went on to write the contract.

Now we need to write the contract using the terms of the agreement, and we both need to sign it in front of a notary. ( you can find a notary at many local banks) You need to have the third party notary so that if at some point the contract is brought before a Judge ( which can and in some cases will happen) the third party notary will legitimize the contract, play it safe so to speak.

The links in this article are going to take you to a web page where you can buy a program that will give you a Contract Writer. ( The contract writer will allow you to write contract for deed, or lease option contracts and many other seller financing contracts for buying a house with bad credit. I don’t remember if it mentions that you also get about 5 different courses on how to buy properties with zero money down)

I use this contract writer to buy properties, and I do so with bad credit. Take a look at the program on the page following the link. I highly recommend it for anyone who wants to buy a house with bad credit. Use the methods that the program teaches you, and use the contract writer to write your contracts! Enjoy!

Learn more about writing a contract made easy here: <a target=”_new” rel=”nofollow” rel=”nofollow” onclick=”javascript:_gaq.push([‘_trackPageview’, ‘/outgoing/article_exit_link’]);” href=”http://www.squidoo.com/Seller_Financing_Contract“>http://www.squidoo.com/Seller_Financing_Contract”>http://www.squidoo.com/Seller_Financing_Contract</a>

First Time Home Buyer Programs

Learn more about writing a contract made easy here: http://www.squidoo.com/Seller_Financing_Contract

Article from articlesbase.com

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Free Money In Florida for First Time Home Buyers – Understanding the SHIP Loan Program

Free Money In Florida for First Time Home Buyers – Understanding the SHIP Loan Program

Understand the S.H.I.P. Loan Program for First Time Home Buyers


While the economy has been tough for the housing market, new homeowners may have had the toughest time. In most parts of the country, the housing supply and reduced prices made purchasing a new home now a good idea. Unfortunately, many lenders also started cracking down on their lending practices. They required higher income levels, increased the interest rates, and started asking for larger down payments. People from lower income backgrounds found it increasingly challenge. In Florida, however, a no money downpayment loan for first time home buyers is making things easier.


Background on the Program


This no money downpayment loan for first time home buyers is available through a program known as S.H.I.P which stands for State Housing Initiative Partnership. The program is available in every county in Florida. Each county receives state funds which they, in turn, use to promote home ownership in their area, particularly among those with the lowest income and the greatest need for financial assistance. However, these government assisted home loans are not just given to everyone. Individuals do need to meet specific requirements.


The Down Payment Assistance Program


Buyers must meet certain qualifications if they are going to receive the no money downpayment loan for time time home buyers. Because the program is for low income families, the household income must not equal more than 120% of the AMI (Area Median Income). Because the AMI varies greatly between Florida counties, this is the most effective way of setting income limits for the program. To prevent buyers from moving into counties where they will be eligible, a one year residency requirement in that county is required as well.


Additionally, buyers are asked to secure the mortgage financing and to complete an education seminar provided free through the S.H.I.P program that educates them on the facts about purchasing a home for the first time. Individuals must also contribute either 1% of the total home?s sale price of ,000 to the purchase as a sign of commitment to honor this partnership.


The buyer isn?t the only one who must meet specific qualification requirements to receive government assisted home loans. The property must also qualify. Obviously, it must be located in the same county. However, the sale price cannot be higher than 9,000 to qualify. That makes sense because the maximum assistance provided is ,000. The total amount homeowners will be eligible for depends on their household income. Another requirement is that the combination of the two loans must not be more than 105% of the home?s appraised value ? this rule is to protect the home buyer from paying too much for a property.


Reasons for Refusal


Following May 2008, a few additional requirements were added to the program to ensure the funds were being used to assist the most eligible individuals. The credit score requirement of 620 was added. However, individuals with lower credit scores can be eligible if they do not have any garnishments, past due revolving accounts, a bankruptcy in the last two years, or past due rent within the last 12 months. Applicants with credit scores below 620 are approved at the discretion of the program, and those are just some of the examples which could disqualify a prospective home buyer.


The Benefits of the Program


The no money downpayment loan for first time home buyers is made to the owners at the time of their closing on the property. While called a loan, it doesn?t work as a loan. Instead, they carry a 0% interest rate so the amount needed for the down payment and borrowed will not increase. Additionally, the loan will be completely forgiven if the homeowners are still in it fifteen years later.


Obviously, this has a tremendous positive impact on low-income families who want to purchase their first home but who may find saving up a 10% or down payment to be nearly impossible. After all, a 10% down payment for a 0,000 home would be ,000 which is a lot of money for anyone to save up.


By forgiving the loan after fifteen years, the program uses these government assisted home loans to encourage people to buy a home, take care of the home, and live in it. After all, purchasing a home is usually a solid investment, even despite the recent slump in the market.


For potential home owners who meet the program?s requirements, it can provide a wonderful opportunity they may not have otherwise had.

First Time Home Buyer Programs

For information on FHA, VA, USDA in all 50 states, SHIP Program in the state of Florida and up to date Mortgage rates visit Home Loans Made Easy Online.com

Article from articlesbase.com

Find More Home Buyer Programs Articles

First Time Home Buyer Programs

Free Money In Florida for First Time Home Buyers – Understanding the SHIP Loan Program

Free Money In Florida for First Time Home Buyers – Understanding the SHIP Loan Program

Understand the S.H.I.P. Loan Program for First Time Home Buyers


While the economy has been tough for the housing market, new homeowners may have had the toughest time. In most parts of the country, the housing supply and reduced prices made purchasing a new home now a good idea. Unfortunately, many lenders also started cracking down on their lending practices. They required higher income levels, increased the interest rates, and started asking for larger down payments. People from lower income backgrounds found it increasingly challenge. In Florida, however, a no money downpayment loan for first time home buyers is making things easier.


Background on the Program


This no money downpayment loan for first time home buyers is available through a program known as S.H.I.P which stands for State Housing Initiative Partnership. The program is available in every county in Florida. Each county receives state funds which they, in turn, use to promote home ownership in their area, particularly among those with the lowest income and the greatest need for financial assistance. However, these government assisted home loans are not just given to everyone. Individuals do need to meet specific requirements.


The Down Payment Assistance Program


Buyers must meet certain qualifications if they are going to receive the no money downpayment loan for time time home buyers. Because the program is for low income families, the household income must not equal more than 120% of the AMI (Area Median Income). Because the AMI varies greatly between Florida counties, this is the most effective way of setting income limits for the program. To prevent buyers from moving into counties where they will be eligible, a one year residency requirement in that county is required as well.


Additionally, buyers are asked to secure the mortgage financing and to complete an education seminar provided free through the S.H.I.P program that educates them on the facts about purchasing a home for the first time. Individuals must also contribute either 1% of the total home?s sale price of ,000 to the purchase as a sign of commitment to honor this partnership.


The buyer isn?t the only one who must meet specific qualification requirements to receive government assisted home loans. The property must also qualify. Obviously, it must be located in the same county. However, the sale price cannot be higher than 9,000 to qualify. That makes sense because the maximum assistance provided is ,000. The total amount homeowners will be eligible for depends on their household income. Another requirement is that the combination of the two loans must not be more than 105% of the home?s appraised value ? this rule is to protect the home buyer from paying too much for a property.


Reasons for Refusal


Following May 2008, a few additional requirements were added to the program to ensure the funds were being used to assist the most eligible individuals. The credit score requirement of 620 was added. However, individuals with lower credit scores can be eligible if they do not have any garnishments, past due revolving accounts, a bankruptcy in the last two years, or past due rent within the last 12 months. Applicants with credit scores below 620 are approved at the discretion of the program, and those are just some of the examples which could disqualify a prospective home buyer.


The Benefits of the Program


The no money downpayment loan for first time home buyers is made to the owners at the time of their closing on the property. While called a loan, it doesn?t work as a loan. Instead, they carry a 0% interest rate so the amount needed for the down payment and borrowed will not increase. Additionally, the loan will be completely forgiven if the homeowners are still in it fifteen years later.


Obviously, this has a tremendous positive impact on low-income families who want to purchase their first home but who may find saving up a 10% or down payment to be nearly impossible. After all, a 10% down payment for a 0,000 home would be ,000 which is a lot of money for anyone to save up.


By forgiving the loan after fifteen years, the program uses these government assisted home loans to encourage people to buy a home, take care of the home, and live in it. After all, purchasing a home is usually a solid investment, even despite the recent slump in the market.


For potential home owners who meet the program?s requirements, it can provide a wonderful opportunity they may not have otherwise had.

First Time Home Buyer Programs

For information on FHA, VA, USDA in all 50 states, SHIP Program in the state of Florida and up to date Mortgage rates visit Home Loans Made Easy Online.com

Article from articlesbase.com

Find More Home Buyer Programs Articles

Mortgage Finance

Flroida FHA mortgage Lender offers 97% Financing

Flroida FHA mortgage Lender offers 97% Financing

FHA Mortgages

Purchasing a new Florida home is exciting. Finding the right Florida home for you and your family requires allot work and decision making. However, finding the right FHA mortgage is just as important as finding the right Florida  home.

 Many Florida homebuyers take advantage of FHA loans when purchasing a Florida home. Out FHA mortgage website helps Florida homebuyers understand how FHA can help buy a Florida home.

An FHA mortgage can be an attractive option to many Florida first-time homebuyers and moving up buyers, as the FHA down-payment requirement can be as low as 3.5 percent. However, you don’t need to be a Florida first-time buyer to take advantage of the low down payment options; the only stipulation is that the Florida homebuyer may only have one FHA mortgage at a time.

Florida home buyers and moving up buyers  should know the many advantages of the FHA mortgage programs. FHA loans were created to help increase home ownership. For the Florida home buyer the FHA program can simplify the purchase of a home, making financing easier and less expensive than a conventional mortgage loan product. Some highlights of the Florida FHA loan program include:

Minimal Down Payment and Closing costs.

Down payment less than 3% of Sales Price Gifts are allowed Seller can credit up to 6% of sales price towards closing and prepaid costs. 100% Financing available No reserves required. FHA regulated closing costs.

Easier Credit Qualifying Guidelines such as:

  No minimum FICO score or credit score requirements. FHA will allow a home purchase 2  year after a Bankruptcy. FHA will allow a home purchase 3 years after a Foreclosure.

To take advantage of the FHA program in Florida, visit http://www.fhamortgagefhaloan.com/

Qualifying For a FHA Mortgage

To be approved for a Florida FHA mortgage, you must have stable, predicable income and a satisfactory credit history that shows  your commitment to paying off debts on time.. Also, as a Florida homebuyer you must be able to prove that the total monthly mortgage payment will be less than 35 percent of your before tax monthly income.

 While these qualifications may seem a little stringent, they are actually more lenient than any other Florida mortgage program. The decreased down payment of only 3.5% makes this type of FHA mortgage even more desirable for many Florida homebuyers.

How a FHA Mortgage Works

FHA does not lend the money; it simply insures private Florida mortgage lenders against loss. It is always the decision of the private FHA mortgage lender (a bank, credit union, or savings and loan) to decide whether or not they will approve the FHA home loan request..

 The FHA mortgage program tends to be more forgiving than conventional Florida home loans terms of past credit history. A Florida bankruptcy discharged as little as2  years ago may not stop a homebuyer from buying a Florida home.

Typically, FHA mortgage loans  do not require more than a 3.5% down payment. Unlike conventional mortgagees this money may also be a gift to the Florida homebuyer and does not need to be secured as the Florida homebuyer’s own money. Often, there are “points” associated with FHA mortgages that are usually worth about 1 percent of the total mortgage value. These origination points are paid to FHA mortgage lenders to help lower the interest rate of the mortgage.

Florida mortgage applicants will also have to pay PMI (private mortgage insurance) on the FHA mortgage. PMI is used to ensure that the total amount of the mortgage will be paid to the FHA  lender if the buyer defaults. Usually, a PMI will not?? be put into effect until 20 percent of the Florida  mortgage has been paid.

First Time Home Buyer Programs

http://www.fhamortgageprograms.com/florida/Naples/
http://www.fhamortgageprograms.com/florida/Ocala/
http://www.fhamortgageprograms.com/florida/Okeechobee/
http://www.fhamortgageprograms.com/florida/Orlando/
http://www.fhamortgageprograms.com/florida/Ormond-Beach/
http://www.fhamortgageprograms.com/florida/Osprey/
http://www.fhamortgageprograms.com/florida/Palatka/
http://www.fhamortgageprograms.com/florida/Palm-Bay/
http://www.fhamortgageprograms.com/florida/Palm-Beach/
http://www.fhamortgageprograms.com/florida/Palm-Coast/
http://www.fhamortgageprograms.com/mortgage/homeowner-refinance.shtml
http://www.fhamortgageprograms.com/faq/fha.shtml
http://www.fhamortgageprograms.com/mortgage/manufactured-homes.shtml
http://www.fhamortgageprograms.com/mortgage/bad-credit.shtml
http://www.fhamortgageprograms.com/florida/Cape-Coral/
http://www.fhamortgageprograms.com/florida/Clearwater/
http://www.fhamortgageprograms.com/florida/Clewiston/
http://www.fhamortgageprograms.com/florida/Crestview/

Article from articlesbase.com

www.refiadvisor.com Did you know that your lender has a dirty secret that costs you thousands of dollars unnecessarily? Get free mortgage videos that save the average homeowner 00 per year. Visit RefiAdvisor.com for more.
First Time Home Buyer Programs

Mortgage Finance

Flroida FHA mortgage Lender offers 97% Financing

Flroida FHA mortgage Lender offers 97% Financing

FHA Mortgages

Purchasing a new Florida home is exciting. Finding the right Florida home for you and your family requires allot work and decision making. However, finding the right FHA mortgage is just as important as finding the right Florida  home.

 Many Florida homebuyers take advantage of FHA loans when purchasing a Florida home. Out FHA mortgage website helps Florida homebuyers understand how FHA can help buy a Florida home.

An FHA mortgage can be an attractive option to many Florida first-time homebuyers and moving up buyers, as the FHA down-payment requirement can be as low as 3.5 percent. However, you don’t need to be a Florida first-time buyer to take advantage of the low down payment options; the only stipulation is that the Florida homebuyer may only have one FHA mortgage at a time.

Florida home buyers and moving up buyers  should know the many advantages of the FHA mortgage programs. FHA loans were created to help increase home ownership. For the Florida home buyer the FHA program can simplify the purchase of a home, making financing easier and less expensive than a conventional mortgage loan product. Some highlights of the Florida FHA loan program include:

Minimal Down Payment and Closing costs.

Down payment less than 3% of Sales Price Gifts are allowed Seller can credit up to 6% of sales price towards closing and prepaid costs. 100% Financing available No reserves required. FHA regulated closing costs.

Easier Credit Qualifying Guidelines such as:

  No minimum FICO score or credit score requirements. FHA will allow a home purchase 2  year after a Bankruptcy. FHA will allow a home purchase 3 years after a Foreclosure.

To take advantage of the FHA program in Florida, visit http://www.fhamortgagefhaloan.com/

Qualifying For a FHA Mortgage

To be approved for a Florida FHA mortgage, you must have stable, predicable income and a satisfactory credit history that shows  your commitment to paying off debts on time.. Also, as a Florida homebuyer you must be able to prove that the total monthly mortgage payment will be less than 35 percent of your before tax monthly income.

 While these qualifications may seem a little stringent, they are actually more lenient than any other Florida mortgage program. The decreased down payment of only 3.5% makes this type of FHA mortgage even more desirable for many Florida homebuyers.

How a FHA Mortgage Works

FHA does not lend the money; it simply insures private Florida mortgage lenders against loss. It is always the decision of the private FHA mortgage lender (a bank, credit union, or savings and loan) to decide whether or not they will approve the FHA home loan request..

 The FHA mortgage program tends to be more forgiving than conventional Florida home loans terms of past credit history. A Florida bankruptcy discharged as little as2  years ago may not stop a homebuyer from buying a Florida home.

Typically, FHA mortgage loans  do not require more than a 3.5% down payment. Unlike conventional mortgagees this money may also be a gift to the Florida homebuyer and does not need to be secured as the Florida homebuyer’s own money. Often, there are “points” associated with FHA mortgages that are usually worth about 1 percent of the total mortgage value. These origination points are paid to FHA mortgage lenders to help lower the interest rate of the mortgage.

Florida mortgage applicants will also have to pay PMI (private mortgage insurance) on the FHA mortgage. PMI is used to ensure that the total amount of the mortgage will be paid to the FHA  lender if the buyer defaults. Usually, a PMI will not?? be put into effect until 20 percent of the Florida  mortgage has been paid.

First Time Home Buyer Programs

http://www.fhamortgageprograms.com/florida/Naples/
http://www.fhamortgageprograms.com/florida/Ocala/
http://www.fhamortgageprograms.com/florida/Okeechobee/
http://www.fhamortgageprograms.com/florida/Orlando/
http://www.fhamortgageprograms.com/florida/Ormond-Beach/
http://www.fhamortgageprograms.com/florida/Osprey/
http://www.fhamortgageprograms.com/florida/Palatka/
http://www.fhamortgageprograms.com/florida/Palm-Bay/
http://www.fhamortgageprograms.com/florida/Palm-Beach/
http://www.fhamortgageprograms.com/florida/Palm-Coast/
http://www.fhamortgageprograms.com/mortgage/homeowner-refinance.shtml
http://www.fhamortgageprograms.com/faq/fha.shtml
http://www.fhamortgageprograms.com/mortgage/manufactured-homes.shtml
http://www.fhamortgageprograms.com/mortgage/bad-credit.shtml
http://www.fhamortgageprograms.com/florida/Cape-Coral/
http://www.fhamortgageprograms.com/florida/Clearwater/
http://www.fhamortgageprograms.com/florida/Clewiston/
http://www.fhamortgageprograms.com/florida/Crestview/

Article from articlesbase.com

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Home Loans

FHA home loans Create opportunity for FLorida Home buyers-

FHA home loans Create opportunity for FLorida Home buyers-

FHA Home Mortgage Loans

 Since the 1930s, the Federal Housing Administration (FHA) has been helping Florida families become homeowners with a set of loan programs commonly known as FHA mortgage loans. Despite the longevity and popularity of these FHA loan programs, many would-be Florida homeowners really don’t understand the advantages to the FHA home loan.

The FHA is an agency of the Federal government that insures private FHA mortgage lenders against loss. FHA was Formed by congress in 1934.  and FHA became part of the Department of Housing and Urban Development’s Office of Housing (HUD) in 1965. Today FHA acts as a buffer between FHA mortgage lenders by reducing their risk in issuing FHA loans as well as helping Florida mortgage applicants get FHA loan amounts they wouldn’t qualify for with traditional financing terms.

 FHA loans are not just for Florida first time buyers and are available to everyone in Florida  looking to purchase or refinance a Florida home. If refinancing a Florida home the current FHA loan Does NOT have to be an FHA loan.

The most popular FHA mortgage loan program nationwide is the FHA 203(b). The  FHA home loan that only requires Florida homebuyers come up with a minimum of 3.5% down payment from the Florida  buyer and permits 100% of their money needed to close to be a gift from a relative, non-profit organization, or government agency.

Today, FHA home loans  play a critical role in financing for Florida minority mortgage applicants and Florida  first time home buyers, borrowers who have troubled credit history, and Florida first time homebuyers who have little money to put down on a home. Other advantages to FHA home loans include:

Florida FHA Mortgage Loan Providing mortgage solutions for those looking for an FHA loan in Florida!

Florida home buyers should know the many advantages of the FHA mortgage loan programs. FHA loans were created to help increase home ownership. For the Florida home buyer the FHA program can simplify the purchase of a home, making financing easier and less expensive than a conventional mortgage loan product. Some highlights of the Florida FHA loan program include:

Minimal Down Payment and Closing costs.

Down payment less than 3% of Sales Price Gifts are allowed Seller can credit up to 6% of sales price towards closing and prepaid costs. 100% Financing available No reserves required. FHA regulated closing costs.

Easier Credit Qualifying Guidelines such as:  

No minimum FICO score or credit score requirements. FHA will allow a home purchase 1 year after a Bankruptcy. FHA will allow a home purchase2 years after a Foreclosure.

Apply now for an FHA Home loan at http://www.fhamortgagefhaloan.com/

 

 

First Time Home Buyer Programs

http://www.FHAmortgagePrograms.com
http://www.fhamortgagefhaloan.com/
http://www.fhamortgageprograms.com/florida/Vero-Beach/
http://www.fhamortgageprograms.com/florida/Wauchula/
http://www.fhamortgageprograms.com/florida/Wesley-Chapel/
http://www.fhamortgageprograms.com/florida/west-palm-mortgage.shtml
http://www.fhamortgageprograms.com/florida/Titusville/
http://www.fhamortgageprograms.com/florida/Venice/
http://www.fhamortgageprograms.com/florida/Vero-Beach/
http://www.fhamortgageprograms.com/florida/Wauchula/
http://www.fhamortgageprograms.com/florida/Wesley-Chapel/
http://www.fhamortgageprograms.com/florida/west-palm-mortgage.shtml
http://www.fhamortgageprograms.com/florida/Winter-Park/
http://www.fhamortgageprograms.com/florida/Broward-County/
http://www.fhamortgageprograms.com/florida/Palm-Beach-County/
http://www.fhamortgageprograms.com/florida/Dade-County/
http://www.fhamortgageprograms.com/florida/Miami-Beach/
http://www.fhamortgageprograms.com/florida/N-Ft-Myers/

Article from articlesbase.com

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Housing Grants

How To Get Your Government Housing Grant

How To Get Your Government Housing Grant

There are multitudes of agencies with the federal government that have grant programs to assist certain groups of individuals in obtaining funding to pay down on a home, or to secure a government loan for purchasing a home. Government grants can mean the difference between renting and becoming a homeowner for many people.

Low Income Borrowers

One group of people that are assisted by government grants is low-income individuals. There are grants available to not only assist with obtaining a down payment, such as those offered by the office of Housing and Urban Development (HUD), but in buying a home through a government program, such as those available for purchase through the Farmers Home Administration (FHA), and grants for repairing existing homes to make them more livable, such as programs through the United States Rural Development Association (USDA). These programs are needs based, so you will have to meet certain income thresholds to qualify for grants and assistance under these agencies. A formula for determining eligibility usually takes into account such factors as income and number of people who reside in the household.

Housing Assistance

Additionally, HUD provides grants for housing assistance for those who have limited income and resources, or for the homeless, in the form of Section 8 rental assistance, whereby a voucher is issued for the household to receive all or a portion of their rent paid under the program guidelines. Recipients of HUD Section 8 housing assistance vouchers usually are required to be placed on a waiting list, with those in the most immediate need (such as homeless or displaced by fire or other calamity) being moved to the top of the list first. Those who qualify will also be required to attend a seminar that details their assistance, and outlines participation requirements.

Once approved, successful candidates will receive a voucher that is issued to their landlord each month when the rent is due, for either all of a needs-based part of the rent to be paid with. In addition, dependent upon income, HUD may also send program participants a check to use towards utility payments, such as electricity, water, sewer, and garbage collection, each month. Oftentimes, recipients of rental assistance can be moved in to home ownership through the same agency after a period of successful participation.

Down Payment Assistance

Most of the grant money available is in the form of down payment assistance. This money does not have to be repaid. The money to pay down on your new home is provided by the grant. This can go a long way for those borrowers who can afford monthly payments but do not have the means to afford a down payment to retain the home. Down payment assistance is typically ten percent of the purchase price of the home. Homes must meet certain requirements and be inspected prior to approval of your application for down payment assistance.

Elderly And Disabled

Some lenders, such as HUD and USDA, provide government backed assistance to receive loans to finance homes for low income, elderly, or disabled persons at low interest rates. The application process can be tricky, so having a representative of the agency assist you in filing your application is recommended. Your financial picture will be assessed, and you may be required to attend workshops on becoming a better borrower. Once approved, the home you purchase must undergo rigorous inspections to pass all of the individual agency requirements before you can close the deal.

First Time Home Buyer Programs

Lara Sawyer is a professional loan advisor used to solving bad credit problems and helping people secure home loans, carloans, personal loans, unsecured credit cards, home equity loans, refinance mortgage loans and plenty of other financial products. Whether you want to learn more about Loan Consolidation Bad Credits and Bad Credit Fast Loans or find information about other loan types, just visit: http://www.fastguaranteedloans.com/

Article from articlesbase.com