Anyone have any information to help me out!!!!!?
Answers:
Research these:
(1) RHS (Rural Housing Service) for borrowers who buy property in rural areas - can get a loan of up to 100% of appraised value, no down payment.
(2) FHA (Federal Housing Authority)
(3) VA mortgages (through Dept. of Veteran Affairs)
(4) SONYMA (State of New York Mortgage Agency.) This applies to NY first time home buyers only.
Go to the site below for more info but what you want to do is call the city of where you want to buy and ask them.
Many cities and counties (not all though) have financing just for land or first time buyers etc..
Some cities do and some don't so I'd find that out. I am a real estate agent. You can search in your city or the city you want, below for free and no fees etc..
There are TONS of "government based" home loans. They don't offer the loans, but they insure them. Some are state, some are federal, you really need to go talk to some lenders about what you have in mind and see what they can offer you.
You can buy the land by seeing what type of program you qualify for. Yes talk with lenders- however go with a lender that knows these programs inside and out. Not to brag but i have been doing FHA,FHMA, 100% financing bad credit no credit for a long time and I hate to see you taken advantage of OR not even get the land because you listened to the wrong advise. I see this happen time and time again.. I work for a NAtional Bank, a direct lender which uses our own money and gives you the lowest possible fixed rate and we charge 1 point to do this. I don't have any problems finding you the best deal nor do I have any problems with you going elsewhere to see if you can find better service,price or payments. After working with my company you will end up doing one thing- referring us to all your friends and family. We wrote over 100 Billion dollars in residential loans alone last year using our own funds and we continue to help families just like yours. Email me so I can prove it!
The answers post by the user, for information only, BAnswer.com does not guarantee the right.
More Related Questions and Answers...