Jul 29 2010
You Can Still Buy A Home With Low Or No Money Down Mortgage Loans!
Lot of people think it’s impossible to buy a home today with low or no money down programs… but there are quite a few programs available to home buyers today in Charlotte and North Carolina, especially for first-time home buyers who have credit scores above 620.
Here’s a list of a few of the loans available around the country;(and you don’t need to be a first-time buyer for a number of these).
- FHA Loans: require a only a 3.5% downpayment. Lots of mortgage lenders are active in making these types of loans.
- USDA Loans: these are 100% financing. There are income limitations, but if you are buying a home in a USDA-eligible area, these loans are a wonderful source of financing. But not all lenders do these, so shop around.
- VA Loans: these are 100% fiancing. You don’t need to be a first-time buyer for these, but be sure you work with a lender who has experience with VA Loans.
- HUD Homes: there are lots of HUD foreclosure homes available for sale and financing at only $100 down. Contact your realtor for a list of these homes.
Here’s a list of low or no money-down loan programs available specifically in Charlotte and/or North Carolina:
- House Charlotte Loans: 100% financing.
- North Carolina Finance Agency: part of the NC Bond program, these loans requre only $1,000 down.
It’s an awesome time to buy a home! Interest rates are at historic lows and prime borrowers can borrow at less than 5%, including FHA, Va,USDA loans. These rates are not just for conventional 20% down loans. Home prices are still low. This combination of low rates and low home prices rarely comes about. For more information contact Carolinas Realty Partners. We can put you in touch with some top Charlotte-area lenders and help you find that dream home!
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