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fHA home loan down payment for first time buyers?

When my sister bought her house she paid nothing down. Is this still an option with fha if i have never owned a home and my credit is above 720? I have little debt as well and have paid off all student loans by alvinalmes5435862 from Hammond, Louisiana. Feb 18th 2015 Reply


FHA requires 3.5% of the sales price as a down payment. If your looking for a 100% loan you should check out USDA/Rural Development. There are income restrictions but it's upward of $74,000 in your area. The property would have to be eligible for Rural Development financing. I would love to help! Chasity GraffMortgage BrokerLA Lending, LLC225-926-5408 office225-926-6073 faxWww.LALending.net

Feb 18th 2015
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Chasity Graff (Chasity)
#10 ranked lender in Louisiana - 29 contributions

FHA requires 3.5% of the sales price as a down payment. If your looking for a 100% loan you should check out USDA/Rural Development. There are income restrictions but it's upward of $74,000 in your area. The property would have to be eligible for Rural Development financing. I would love to help! Chasity@LALending.netChasity GraffMortgage BrokerLA Lending, LLC225-926-5408 officewww.LALending.net

Feb 18th 2015
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Dave Metsker (DaveMetsker)
#38 ranked lender in Oregon - 2,317 contributions

USDA is the best source for no down payment purchase loan.

Feb 18th 2015
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,795 contributions

All FHA loans require 3.5% down payment... however there are grants or "down payment assistance" (DPA) programs available in most states.. a local real estate agent or local mortgage broker should be familiar with anything being offered in your area.. USDA does 100% financing, but financing is limited to properties located within the USDA defined area.. and if you have VA benefits available, you do a VA loan with no down.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Feb 18th 2015
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Erica Whiddon (erica@mylamortgage.com)
#27 ranked lender in Louisiana - 9 contributions

I would suggest 100% USDA Rural Development financing. Call me, I'm in Denham.

Feb 18th 2015
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,224 contributions

The most flexible option with FHA where the seller was able to pay the downpayment ended several years ago (due to perceived "abuse") so I agree with others, the USDA/Rural Development loan may be your best option or possibly downpayment help through the State Housing Finance Authority. Local Realtors and/or lenders should have info about it.

Feb 18th 2015
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Garth Cook (garth@garthcook.com)
#5 ranked lender in Louisiana - 12 contributions

We have an FHA option with down payment assistance to allow you to come to closing with no $$. Call me at 225 300 8895 ext. 2.Thanks,Garth Cook

Feb 19th 2015
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