By Tami Carr, Loan Originator at Mortgage 1 Inc., Jan 7 2016 07:03PM
You are renting, you have good credit, low monthly debt, and you are tired of paying rent. You would rather own your own home and build equity for yourself instead of your landlord. But you don't have a lot of money in savings. Can you still purchase a home? The answer is a resounding Yes!
There are several types of low or no down payment loans still available. There are also community down payment assistance programs available for first time home buyers. It's important that you work with a mortgage professional that is well versed on and offers all the different types of loans and assistance programs.
Some examples of low or no down payment loans include VA (loans for Veterans or Active Military Members), USDA (loans for rural development in rural areas), FHA and even Conventional loans. Your mortgage loan originator will consider all the different types of loans and give you your options when pre-qualifying you for a home loan.
Don't let your bank account be the reason you don't try to buy a home. Talk to a mortgage professional and find out what options you have. The sooner you can build equity for yourself - the better.
Any questions, call Tami Carr at 239-839-1123 or email at Tami@swflmortgages.com.
Any questions, call Tami Carr 239-839-1123 or email@example.com