Financing in Pontiac>Question Details

bfleming200, Home Buyer in Auburn Hills, MI

Is it possible to get a home for 100,000 and have low monthly payment . like FHA loans and VA lans with 3% down affordable or is this unrealisic?

Asked by bfleming200, Auburn Hills, MI Wed Oct 24, 2012

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I asked a question last year about a getting a loan on disability and it has been a real struggly but I haven't given up I thought i had one through WELLS and FARGO I got the house I wanted I was excited my kids was excited perfected neighbood furnishings painting party set up on the day of closing the guy called and told me I didn;t have enough income WHAT the WHAT didnt he no that at the beginning? So, where do a disable person apply for a loan with honest people?
0 votes Thank Flag Link Tue Apr 9, 2013
Hello Bfleming200,

As Haig already said, You will never find a more affordable home. With interest rates at an all time historic low, and home prices at 15 year lows, the affordability to own is far greater than renting.

FHA home loans only require a 3.5% down payment while VA offers 100% financing for veterans. If you are a veteren, then I would strongly suggest utilizing your VA option. 100% financing with no mortgage insurance gives you the lowest possible payment and overall savings.

I would be happy to speak to you and go over your financial situation and the options you have to purchase your first home. I am a licensed loan officer for the State of Michigan with a national direct lender. We have access to any program available including FHA, VA, USDA, and Conventional home loans. Feel free to contact me at any time.

Joshua Lerette – Sr. Loan Officer
Residential Finance Corporation
0 votes Thank Flag Link Thu Oct 25, 2012

It is not unrealistic, but what do you consider a low monthly payment? With interest rates ridiculously low right now, payments are not going to be any cheaper than they are now.

Email me and I can send help you get qualified for an FHA or VA loan and you will see roughly what a monthly payment will be in the price range that you are comfortable.

My contact information is below.

Thank you,

Elias Realty
(248) 379-6547
0 votes Thank Flag Link Wed Oct 24, 2012
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