Have you seen theÂ articles on great bargain huntersÂ who combine coupons to get their groceries for almost free? Well, that does not just apply to groceries anymore.Â By combining special offers with certain loan products and incentives you can actually buy a $400,000 home with only $2000 at closing.Â Yes, you can get into a $400,000 house for 2k. That is less than a rental deposit.Â
Why and How:
When you buy a home you have two main costs that come into play that determine how much cash you will need to bring to the table.Â
2) Closing costs
On a $400,000 house the lowest figures generally look like below
1) Downpayment: $14,000
2) Closing costs: $10,000+
Total needed from you $24,000+!
By beingÂ a savvy shopper it can look like below
1) Downpayment $2000 (CHF platinum program is a grant(free money)Â that will cover other 12K)
2) Closing costs $0 (Buy a Fannie Mae home and they are offering to cover 3.5% of closing costs (14k more free money).Â Or if it is not a Fannie Mae property many other sellers are willing to give a credit towards closing costs.Â You would be surprised what you can get just by asking.
Total needed from you $2000
For more info on CHF platinum or Fannie Mae's incentives check out the links to prior blogs I did on these programs. You can always email or call us to qualify. firstname.lastname@example.org
CHf Platinum Program
Fannie Mae covers closing costs
Happy House Hunting!