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Jorge D Acuna's Blog

By Jorge D Acuna, Realtor | Agent in 90280

Its Insane how there are programs to buy a home with .5% down....

Its been a few weeks since my last blog, however I needed to let people know about this. There programs out there right now that you may purchase a home with .5% down. The way it works is pretty simple. For FHA loans right now you have to come in with 3.5% down payment. Which is still not to bad, so now you come in with .5% down and the other 3 percent is financed for 15 years. With a different interest rate than your FHA loan. I would still recommend to come in with the 3.5% so you wont have to finance the 3% but if need be, you can and your payments are about another 100 or so dollars a month more. You could use that money for repairs or even for closing cost. So its possible to Own a home with little downpayment. So no more excuses and believe me, there are some great deals out there. I just sold a 3 bed 1 bath in South Gate for 209,900 in great condition. And if your willing to move away from South Gate, There are some great homes in neighboring cities.

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