Financing in Memphis>Question Details

future homeb…, Home Buyer in Memphis, TN

Is there any kind of down payment or closing cost assistance for first time home buyers?

Asked by future homebuyer, Memphis, TN Thu Feb 4, 2010

Is there any kind of incentives on homes for healthcare workers? Can you purchase a home without putting down a down payment or closing costs?

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4
Wendy’s answer
Hi Sharmaine - we have property for sale and would be happy to assist you with closing costs
if you were interested in purchasing from us - you can e-mail me at wfasulo@tampabay.rr.com for information.
Thank you
0 votes Thank Flag Link Wed Mar 3, 2010
It is possible that you can try to speak with your mortgage lender and check on the qualifications for a THDA loan, a CDPA loan or any other assistance programs such as what Rick mentioned, USDA. All of these loans are out in our world for first time homebuyers, not just healthcare workers. Also, the tax credit guidelines are still here until April 30, 2010 at this time. You may qualify for those incentives as well.
0 votes Thank Flag Link Sun Feb 21, 2010
The Home Buyer tax credit is in effect until April 30, 2010. Feel free to check it out on my web site. If you're looking, don't let that opportunity pass you by! Rates are low. Now's the time!
0 votes Thank Flag Link Sat Feb 20, 2010
5/3 Bank offers the Freddie Mac Good Neighbor loan to healthcare workers, only a 3% down payment is required for borrowers that are at or below the Median income level ( $37,207 for Memphis 2008).
You may also qualify for 100% financing through USDA if you are buying a home in a rural area that was recently heavily used for agriculture.

The City of Memphis and Shelby County are offering down payment assistance programs, more info at
http://www.hud.gov/local/tn/homeownership/2003-09-12.cfm
0 votes Thank Flag Link Thu Feb 4, 2010
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