Down-Payment Assistance
Zero Down Financing Still Available!
December 10, 2009 by Rob Spring · Leave a Comment
YES Zero Down Financing is still available. Although the no downpayment programs of today are not as easy to qualify for as a few years ago, they are still around!
-VA still offers the same 100% program
-Conventional programs are also available for the higher credit scoring borrowers (minimum score for conventional 100% - 680) These conventional programs even offer financing [...]
Down Payment Alternatives
November 23, 2009 by Rob Spring · Leave a Comment
Down payment funding alternatives
For many buyers, especially first-time buyers, saving up the funds for the down payment can be a seemingly insurmountable hurdle to home ownership. This doesn’t have to be the case. As your mortgage broker, I can help you find creative ways to come up with your down payment.
Using a gift for your [...]
401K Down Payment Assistance
November 23, 2009 by Rob Spring · Leave a Comment
You’ve finally found the home of your dreams. There’s just one thing standing between you and your new house: The down payment.
Many home buyers today opt to use funds from their employer’s 401(K) program to come up with the down payment on a house. Ordinarily, you can’t take money from your 401(K) plan unless you [...]
Verifying Your Down Payment Sources
November 23, 2009 by Rob Spring · Leave a Comment
Verifying Your Down Payment,
Closing Costs, Assets, Income and Debts
A critical step in the mortgage loan application process is to verify the sources for your down payment, closing costs and assets, as well as documenting income and debts. The lender uses this step to determine your qualifications as a borrower.
Down Payment & Closing Costs
Documenting that the [...]
No Down Payment – The USDA Loan Program
November 20, 2009 by Rob Spring · Leave a Comment
The USDA Loan Program
Two of the many benefits available with USDA Home Loans are no downpayment and no mortgage insurance on your home. We can help you take advantage of these benefits, but we cannot help those who are looking for Rural Housing Direct Loans, which are 100% financed directly through the US Government.
Most people in rural areas qualify [...]
USDA offers No Down Payment Financing
November 13, 2009 by Rob Spring · Leave a Comment
USDA (Rural Development) will finance up to 100% of the appraisal value. Even though it’s titled “RURAL DEVELOPMENT” you’d probably be suprised exactly which areas are eligible. Use the link below to check property addresses. There is even an interactive map!
http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfp&NavKey=property@11
New Tax Credit vs. Old Tax Credit
November 13, 2009 by Rob Spring · Leave a Comment
Previous Provisions
New Provisions
Effective Date
January 1, 2009
November 7, 2009
Deadline
Close before December 1, 2009
Contract signed before May 1, 2010, must close before July 1, 2010
Members of the uniformed services, foreign services, and intelligence employees who served an extended service of 90 days will have until April 30, 2011 and June 30, 2011.
Amount
First-Timers: maximum of $8,000 or 10% [...]
Need help with down-payment?
October 12, 2009 by Rob Spring · Leave a Comment
Several cities in North Texas have DPAP programs. We can walk you through the application and approval process, one step at a time.
Tax Credit Extended and Expanded until June 30th 2010
October 9, 2009 by Rob Spring · Leave a Comment
The First Time Home Buyers Tax Credit has been extended and expanded to cover existing home owners until June 30, 2010. $8000 for first timer’s and $6,500 those who have owned and occupied a home for 5 of the past 8 years.
FAQ’s