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is ther down payment assistance for conventional mortgage in MA?

massachusetts down payment help for conventional loans. borrower has 707 credit score as of today from creditkarma.com. existing down paymt savings of roughly 3% by franklinotts68786... from Middleboro, Massachusetts. Jan 14th 2015 Reply


Hi certain town and cities do offer so please call me Robert Oliveira with province mortgage associates 508.802.0935 or via email robertoliveira51@gmail.com I can provide you with some helpful insight. .I live in new Bedford Massachusetts

Jan 14th 2015
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Richard Shapiro (RShapiro)
#12 ranked lender in Massachusetts - 71 contributions

Check with either the Planning Board or Economic Council Board in the towns you are interested in. In the meantime, FannieMae now offfers 3% down and FHA is always been 3.5% down.Please contact me through my profile for further details and or questions

Jan 14th 2015
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Sean Pashoian (SeanPashoian)
#42 ranked lender in Massachusetts - 22 contributions

There can be special programs with down payment assistance in certain towns, but you would have to check as referenced elsewhere here. Otherwise, 707 credit score would qualify for 3% down conventional programs, 3.5% down FHA loans, 100% financing for USDA loans based on location (Middleboro included), reduced MI loans for first time home buyers, NO Mortgage Insurance Loans, etc. You simply need to be working with the right Loan Officer that has experience in and access to these programs. I'm happy to help. Feel free to call or email any time. I'm located in central, MA and licensed by the MA Division of Banks. SPash@prestigehomemortgage.com or C: 508-612-1835

Jan 14th 2015
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,933 contributions

Probably, but the best source would be a local mortgage broker.. not the big box bank on the corner.. Most mortgage brokers are familiar with local grants and DPA programs and can walk you through the qualifications required to be approved.. this all being said, they can also help you with FHA or conventional financing.. FHA requires 3.5% down conventional requires 3% down.. and between the seller, your Realtor and your loan officer, there's a way to get all your closing costs paid for as well. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. 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

Jan 15th 2015
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