There are quite a few options in Montgomery County depending on where you want to buy a house. USDA is an fantastic loan! It is a 100% financing that the guidelines are similar to FHA for requirements for the buyer and for the appraisal of the house.
Montgomery County also has special programs for First time buyers, but you do need to go through their program for it. There are certain guidelines of how much you can earn etc and I can go over that with you in depth when we meet.
There are quite a few options out there for you.
If you have more questions about areas that qualify for USDA financing or the programs that Montgomery County has please feel free to contact met.
95% of my business is first time buyers that qualify for USDA loans or the programs that Montgomery County has set up.
I would be more than Happy to help you find a New Home!
Let me know how I can help you!
Kimberly Collins, Realtor, ABR, GREEN, SFR
Keller Williams Agent Leadership Council for 2011 & 2012
PA License # RS303924
"A Refreshing Real Estate Experience"
Keller Williams Realty Group
Office: 610-792-5900 Ext 8177
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There is actually a great mortgage option out there currently called a USDA loan that does NOT require a down payment! It is only available to rural areas, but Harleysville and many surrounding areas do qualify. I bought my house this way with my husband after we were both out of school and we only paid $3,000 out of pocket! You can get a sellers assist to help with the closing costs as well. It has a lot less monthly mortgage insurance than a typical FHA loan has as well.
I would be happy to talk to you more about this and send you some examples of closing costs for homes in the area - please contact me if interested!
Coldwell Banker Realty Corp.
If those areas are not an option, PHFA offers a grant program to help with down payment. You can buy with as little as 1.5% down. Visit http://www.michaelsrealestateblog.com/?page_id=32 for more details.
Manufactured homes on a leased lot would not be eligible for these programs though. If you have any questions, just let me know. I would be happy to help sort through your options.
I would suggest you contact a good lender in your area. They can direct you to an agency in your State and area that may offer first time buyer down payment programs. Here in the State of Colorado we have the Colorado Home Finance Authority (CHFA ) which administers just such a program. You should also discuss with your lender the ramifications of loan differences on manufactured housing in your area. Certain types can be very difficult for loans and this can effect your later resale when its time to move on.