Nov
12
Down Payment Myths
Posted by under For Buyers, General Information
I’m writing to you to help you sift through real estate information that has been in the news that is misleading. · First, it’s a great time to purchase a home. · Second, you might have heard that you need a 20% down payment to purchase a home. NOT TRUE. Through FHA, your down payment will be 3%, on January 1, 2009 that increases to 3.5% for 30 year fixed rate mortgages. · Third, you don’t have to have perfect credit to get financed. · Fourth, there are many programs available for first time home buyers (which include divorcees). Programs such as: Down Payment, Assistance, Closing Cost Assistance, Shared EquityThese programs allow you to get into a home with as little as $1,000.00 out of pocket with some income restrictions. When you’re ready to purchase or sell a home, I welcome the opportunity to represent you. I will continue to send you valuable information. Please don’t hesitate to call or e-mail if you have any questions. Thanks and I look forward to hearing from you.
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