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re: 100% Financing
Posted on 3/16/12 at 11:33 am to tiger94gop
Posted on 3/16/12 at 11:33 am to tiger94gop
Check with your lender. There are typically Parish Housing & Finance Authorities, as well as in some cases a City Housing Authority.
Many of these places will have down payment assistance programs.
HUD for example has a "Good Neighbor Next Door" program. If you buy one of their foreclosed properties and can verify you're a law enforcement/first responder type, you put in a full price offer, make 36 payments on a 50% LTV loan, & they carry a silent 2nd that is totally forgiven at the end of 36 months.
Instantly giving you 50% equity after 3 years.
But, many other places will provide down payment assistant grants or subsidized 2nds. You need to look into these.
Many of these places will have down payment assistance programs.
HUD for example has a "Good Neighbor Next Door" program. If you buy one of their foreclosed properties and can verify you're a law enforcement/first responder type, you put in a full price offer, make 36 payments on a 50% LTV loan, & they carry a silent 2nd that is totally forgiven at the end of 36 months.
Instantly giving you 50% equity after 3 years.
But, many other places will provide down payment assistant grants or subsidized 2nds. You need to look into these.
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