1st time home buyer programs? | TigerDroppings.com
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TheTigerZone
LSU Fan
Moss Bluff ,La
Member since Dec 2009
2343 posts

1st time home buyer programs?

anybody know of any? And how they work? TIA


novabill
LSU Fan
Crossville, TN
Member since Sep 2005
6565 posts

re: 1st time home buyer programs?
USDA Rural Development loan, while not just for first timers is a great program if you are buying in an eligible area and make less money than the threshold for the program. About 72k per year for a household of 1-4 and about 94k for a household of 5-8 people.


cjared036
Alabama Fan
Houston, tx
Member since Dec 2009
7386 posts

re: 1st time home buyer programs?
I believe you can withdraw from your 401k penalty free with a first time home purchase....

Other than that idk...


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lsu tigerdog
LSU Fan
Baton Rouge
Member since Nov 2007
139 posts

re: 1st time home buyer programs?
the rural development program by far the best program around, max combined income is $74,750 for fam 1 to 4, if you are close to income limit but do have children that helps out because they give you deduction to qualify. no down payment, low rate, you can literally walk to the table with no out of pocket expense, but if you do go this route, expect to close 60 days from start of loan app. underwriting goes quick but after wards file goes to rural development office and they are super behind.
if you interested in the 100% program, shoot me your email adrs and i can help you out more, im in the mtg business


LSUTOM07
LSU Fan
Baton Rouge
Member since Dec 2011
534 posts

re: 1st time home buyer programs?
Is there a website where you can see what parts of Louisiana qualify as rural development?


kennypowers816
LSU Fan
Houston
Member since Jan 2010
2226 posts
Online

re: 1st time home buyer programs?


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tigeraddict
LSU Fan
Baton Rouge
Member since Mar 2007
4978 posts

re: 1st time home buyer programs?
Hoo Shoo Too area qualifies from Azalea Lakes on the right side the road, all the way to the end then on the left side the road from tigerbend to the end

My brother closed on a house in Hoo Shoo Too lakes in october, and got RD loan. 100% financing, they paid his closing costs, and his PMI was only $40ish per month...


damonster
Member since Sep 2010
665 posts

re: 1st time home buyer programs?
Is this program available for existing properties only or will they loan you the money to build if you already own a piece of land?


tigeraddict
LSU Fan
Baton Rouge
Member since Mar 2007
4978 posts

re: 1st time home buyer programs?
see here:

LINK



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