Pamela,

One loan you could consider if you look in St. Pauls/ Parkton area is a USDA loan. With a USDA loan you get 100% financing meaning no percentage required for a down payment. A USDA loan is for a rural area and all of Robeson County is considered rural. Last I knew., FHA is now requiring 3.5% down payment. If a person is Indian, there is a special Indian assistance program but some lenders do not carry it. This is a great time for you to buy with the low interest rates and the tax credit that is up to 8,000 (it is a % of the purchase price). The tax credit is good for first time home buyers (not owned a home in 3 yrs) and runs until 12/31/09. Please let me know if you have any more questions or would like to look at homes in the Robeson County area. Also, I can always forward a lender list of lenders that offer the USDA loan. my email is heathervickers@remax.net.

Kindest regards,
Heather Vickers

Pamela,

One loan you could consider if you look in St. Pauls/ Parkton area is a USDA loan. With a USDA loan you get 100% financing meaning no percentage required for a down payment. A USDA loan is for a rural area and all of Robeson County is considered rural. Last I knew., FHA is now requiring 3.5% down payment. If a person is Indian, there is a special Indian assistance program but some lenders do not carry it. This is a great time for you to buy with the low interest rates and the tax credit that is up to 8,000 (it is a % of the purchase price). The tax credit is good for first time home buyers (not owned a home in 3 yrs) and runs until 12/31/09. Please let me know if you have any more questions or would like to look at homes in the Robeson County area. Also, I can always forward a lender list of lenders that offer the USDA loan. my email is heathervickers@remax.net.

Kindest regards,
Heather Vickers

Pamela,

One loan you could consider if you look in St. Pauls/ Parkton area is a USDA loan. With a USDA loan you get 100% financing meaning no percentage required for a down payment. A USDA loan is for a rural area and all of Robeson County is considered rural. Last I knew., FHA is now requiring 3.5% down payment. If a person is Indian, there is a special Indian assistance program but some lenders do not carry it. This is a great time for you to buy with the low interest rates and the tax credit that is up to 8,000 (it is a % of the purchase price). The tax credit is good for first time home buyers (not owned a home in 3 yrs) and runs until 12/31/09. Please let me know if you have any more questions or would like to look at homes in the Robeson County area. Also, I can always forward a lender list of lenders that offer the USDA loan. my email is heathervickers@remax.net.

Kindest regards,
Heather Vickers

Pamela,

One loan you could consider if you look in St. Pauls/ Parkton area is a USDA loan. With a USDA loan you get 100% financing meaning no percentage required for a down payment. A USDA loan is for a rural area and all of Robeson County is considered rural. Last I knew., FHA is now requiring 3.5% down payment. If a person is Indian, there is a special Indian assistance program but some lenders do not carry it. This is a great time for you to buy with the low interest rates and the tax credit that is up to 8,000 (it is a % of the purchase price). The tax credit is good for first time home buyers (not owned a home in 3 yrs) and runs until 12/31/09. Please let me know if you have any more questions or would like to look at homes in the Robeson County area. Also, I can always forward a lender list of lenders that offer the USDA loan. my email is heathervickers@remax.net.

Kindest regards,
Heather Vickers

On todays market after all the real estate caos, they are only 3 types of loans. VA that is for military personal and miltary retired VA only garantee the loan they don't give a loan. FHA that is a federal loan they don't give a loan they garantee the loan and Conventional. Under the VA you you pay a funding fee for the right of the loan. Under the FHA you have to give 3% down and they pay a fee (also call MIP) Mrtgage Insurance Premium. Under the Conventional loan depend on the credit score you have, you will be required to put down not less than 10% down and pay a fee (also call PMI) Prime Mortage Insurance. PMI and MIP are the same insurance that you have to pay just in case you default on the loan. You pay this fee for two years as loan as you make all your payments on time. Now here in Fayetteville is customary that the seller pay part or all of the closing cost of the buyer expense but it is not required, all depends how good is the Realtor who represent you. There is one more way to get a loan that not too many people knows about it, and they do help not only with the down payment but if you qualify depeding of your income you could get a grant up to $20K. If you are interested on this or other info feel free to contact me.
Rafael Bustamante,
(910) 797-9762

Pamela - there are programs out there to assist with closing cost assistance, if you meet certain requirements. Many lenders don't bother with these programs, because it takes extra work on their part, and more paperwork, and more effort on the lenders part to stay up to date. Check out the NC Housing Finance Agency, they can put you in contact with a lender who maybe able to help.

Feel free to contact me if you have any additional questions, or would like the contact info of a lender who participates.

Daniel