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Sixmile Jarvo, Home Buyer in Charlotte, NC

first time home buyer, 720 credit score,

Asked by Sixmile Jarvo, Charlotte, NC Sat Apr 14, 2012

Looking for financing no down payment, no closing, no pmi etc.... any ideas. the area i am looking qualifies for the usda and everyone says go with that one, any other programs i am missing... also the house has an energy rating

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12
Good evening, Sixmile.
There are several options for qualified first time home buyers for low/no down payment loans. Most loans with little to no money down INCLUDING USDA have PMI, but at this time, it PMI is deductible like interest. There are other options for down payment and closing cost assistance. Once you have financing figured out, it will be best to find a real estate professional who is a good negotiator to make sure you purchase the home you want on the terms that fits your finances and your lender approval. It is possible in today's market to walk in with a bit of equity if we negotiate well. If you appreciate an answer, please give "thumbs up". For the most helpful answer, please say thanks with a "best answer" click.
1 vote Thank Flag Link Wed Apr 25, 2012
thanks.
Flag Wed May 2, 2012
USDA is a great program-just be sure the home you are looking at qualifies for USDA financing.
1 vote Thank Flag Link Sat Apr 14, 2012
Out of curiosity I went to the my website to see what Charlotte USDA homes are currently available for sale. Here they are:

http://www.charlottehomeconnect.com/listings/propertyid/%202074541…

Let me know if you're interested in viewing any of them.

Regards,

Belinda Agosto, CDPE, CIAS
Hines & Associates Realty LLC
19615 15-B Liverpool Parkway
Cornelius, NC 28031

Direct/Text: 704.200.8823
Fax: 866.681.5494

http://www.CharlotteHomeConnect.com
http://www.CharlotteForeclosureRescue.com
1 vote Thank Flag Link Sat Apr 14, 2012
Good website.
Flag Wed May 2, 2012
You can use USDA,NACA...BB&T CHIP PROGRAM, and also NC Bond.....I hope this helps
1 vote Thank Flag Link Sat Apr 14, 2012
thanks for the info.
Flag Wed May 2, 2012
Even if you're not a veteran you may be eligible for a VA Loan through the VA Vendee Finance program for qualified properties.

I'd love to explain further. You're welcome to contact me directly any day of the week to answer your mortgage and real estate questions.

Good luck.


Belinda Agosto, CDPE, CIAS

Direct/Text: 704.200.8823

http://www.CharlotteHomeConnect.com
http://www.CharlotteForeclosureRescue.com
1 vote Thank Flag Link Sat Apr 14, 2012
The other two answers you have are correct: VA with no pmi and USDA with a very low pmi. Another option to help out would be seeing if you qualify for an MCC tax credit through NC Housing. It is a great product and we've been able to help a lot of first time buyers (haven't owned a primary residence in the last 3 years) with this product. It provides up to a $2000 per year tax credit as long as you have the mortgage and reside in the property. The MCC tax credit also helps buyers qualify better by lowering the debt to income ratio when calculated. Sometimes the FirstHome product is a good one too but market rates for USDA are a little better option right now compared with FirstHome though. With rates and prices so low it is an exciting time to buy!
1 vote Thank Flag Link Sat Apr 14, 2012
Sixmile,

The only two programs I know of that you may qualify for depending onw here you are buying is the USDA loan (which you are getting recommended for) and VA loan. To qualify for the VA loan you need to be a veteran of the military.

Those are the only two no money down programs I know of right now...

Dave dicecco
Realtor/Broker
http://www.davedicecco.com
1 vote Thank Flag Link Sat Apr 14, 2012
Are you eligible for a VA loan? If so, that's your best loan program.

Otherwise, even with USDA, you will pay some form of MI. However, if your income qualifies, it is a fantastic loan program and one of the best ways to finance a home.
1 vote Thank Flag Link Sat Apr 14, 2012
not a vet, have you heard of a energy eff loan?
Flag Sat Apr 14, 2012
Good afternoon, SixMile Jarvo:
Are you still in the market? If so, while minimum credit score requirements have risen at many lenders, we still can find financing at 600+ middle credit if you meet the criteria in the Trulia Blog "I have bad credit and no savings. Can I get a home or am I stuck renting?" http://goo.gl/5RG3w If you appreciate this answer, please give it a "thumbs up", or if this was the most helpful answer, please say thanks with a "best answer" click .
0 votes Thank Flag Link Thu Feb 21, 2013
Contact me directly and I'll put you in front of my very knowledgable lender. Do you currently have a buyer's agent on your side? If not, let me know and I'd love to help you with negotiations - it doesn't cost you anything extra in the transaction.

John Siddons
John.Siddons@prucarolinas.com
0 votes Thank Flag Link Mon Apr 16, 2012
I have a great idea. Please call my assistant at 704-394-6609 and schedule an appointment to come into the office so we can talk privately. I am sure you have other concerns and questions. All it takes is about 30 minutes of your time.  

Thanks

704-394-6609
0 votes Thank Flag Link Sat Apr 14, 2012
Hello Sixmile,

Please contact me directly if you would like help with your home buying experience. I can also direct you to an excellent lender that can help you with your financing questions.

Regards,

Michael Laine
cell- 704-619-3971
email- michael.laine@prucarolinas.com
0 votes Thank Flag Link Sat Apr 14, 2012
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