As you've already read, FHA does require 3.5% down. Why not get that 3.5% and more from the manny down payment assistance programs offered in Georgia and invest your own money somewhere else? Check out the blog below for several down payment assistance programs available in Georgia. Check back again later this week for the detail on programs in the City of Atlanta too.
Happy Shopping and please call if I can be of assistance.
REALTORÂ® / Consultant - Keller Williams Realty Atlanta Partners
Unfortunantly we have been informed that we would need full underwriting approval by 11/16. As FNMA will discontinue the 97% product after that date. There are several optons availalbe upto the 10% down as well.
The answer to your question is yes!
If a low down payment and a good deal on a home are what you are looking for don't rule out HUD! HUD offers a $100 down program when you purchase a HUD home!
There are some great properties available! Give me a call if you need some assistance.
ERA Sunrise Realty
You need to contact a reputable mortgage professional (or several in order to get a broader view of what's available). I recommend you go with someone local (preferably someone who actually can do the underwriting locally too -- a lot of the big banks have their mortgages processed out of state). Suntrust has really good rates on conventional mortgages and they do their processing locally. They also have a wide range of loan products available. Talk to your agent as well as friends and family about referrals to good mortgage lenders/brokers. If you need a referral, I'd be happy to provide you with contact info for several excellent intown lenders.
Best of luck! This is an amazing time to buy! :D
FHA has the best down payment program at 3.5% for first time home buyers. There are very good conventional programs between 5%-10%. I would be very happy to sit down with you and go over all the pluses and minuses of home ownership and down payment programs. I specialize in residential homes in Metro Atlanta and surrounding areas. I would very much appreciate the opportunity to find you that perfect home. To learn more about me visit my website at http://www.rickpaynesold.com. Especially, review "About Me" and the other information on my website. My contact information is 678-427-5512 (cell) and email firstname.lastname@example.org.
I look forward to hearing back from you in the near future.
Keller Williams Realty