Saving for a down payment should not be the reason you put your dreams on hold. There are solutions. We can help you buy your dream home with very little down payment that could be a gift. You’ll not only be able to afford a home sooner, you’ll probably be able to afford more home. These days Home Ownership seams easier with the new FHA guidelines.
Here is an example:
For example, say the Purchase Price is $200,000.
The seller agrees to contribute 3% of the purchase price.
Here is how it is used:
- Down Payment at 3.5% could be as a gift from a family member
- Most Closing costs and prepaid can be paid by the seller(varies by state)
- FHA Loan is at 96.5% (Mortgage insurance is added to the loan amount)
- You got your loan with almost very little out of pocket.