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05-15-2008, 05:50 PM #1
Renter
- Join Date
- May 2008
- Posts
- 4
First Time Home Buyer
[COLOR=black]I am looking to buy my very first house with my fianc
Last edited by jacigia; 05-15-2008 at 05:52 PM. Reason: text have html tags
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05-16-2008, 04:00 AM #2
Condominium
- Join Date
- Sep 2007
- Location
- Indianapolis
- Posts
- 302
Based on what you are saying, it sounds like you would be best to go with an FHA loan with some sort of down payment assistance (dpa) from the seller. These loans do exist and lenders will make them because they are backed by FHA. There typically is a small fee involved in these DPA programs, but in this market you can certainly get a seller to fork out an extra couple hundred bucks to make the deal work.
Mike Taylor
Broker/Owner
Red Door Real Estate
Indianapolis Real Estate| Indianapolis Homes | Indianapolis New Homes | Carmel Real Estate | Fishers Real Estate |Noblesville Real Estate | Greenwood Real Estate | Zionsville Real Estate | Westfield Real Estate | My Real Estate Blog
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05-17-2008, 06:12 AM #3
Condominium
- Join Date
- Apr 2008
- Posts
- 148
Well, loan is a easy when you have the requirements but when it is not paid on a regular basis the interest and hidden charges will be pain in the behind, but I still think you and your fiance should push through it. Goodluck.
Jron Magcale
Real Estate Marketing
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06-04-2008, 05:19 AM #4
Banned
- Join Date
- Nov 2007
- Posts
- 93
Buying a home can be complicated and frightening. You acquire a large debt and assume many new responsibilities. And in the back of your mind is that nagging question,
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12-11-2009, 07:23 AM #5
Fixer Upper
- Join Date
- Dec 2009
- Location
- Indianapolis, Indiana
- Posts
- 78
Even people who have the cash sometimes choose to use a no down payment program just because they would rather hold onto the reserves. Sellers are looking at their bottom line, if you ask for DPA and closing cost help don't low ball the offer on top of that. This has a tendency to turn off sellers very quickly. Everyone wants a deal but rarely can you have it both ways.
Mike Woods
Agents keep 100% of the commission - $445 per sale
or keep 100% of the commission - $50 for $350 a month. You choose.
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