If you have decent credit, most ANYTHING is possible. The first thing you do BEFORE you start to seriously look or offer is to find a LOCAL lender who is certified to offer either FHA or the USDA "Rural Development" loan [yes, it covers it towns too!]. Once you know that a program will loan to you, you need to contact a REALTOR who understands these programs. I can assure you that between the motivated Seller, the bank who can not find enough Buyers to loan to and the government "give away" programs [such as the $8,000 1st time mome buyer], I could put you in a home with ALL expenses paid [including appraisal, inspection, fees and even your first years house insurance] and you would end up WITH MORE CASH IN YOUR POCKET THAN YOU STARTED WITH! This is FACT and not fiction. You are welcome to call me and I can explain HOW.

James S. Bangs
815-275-7390 james.bangs@yahoo.com
Freeport, Illinois Realtor for 40 years with over $100,000,000 in lifetime sales

S.

Jes is correct to a point that FHA may be a good choice for you.
However there are many options that you have.
Depending on where you move you may qualify for a USDA Rural Development loan.
This loan is 100% and has NO monthly PMI.
You can also have the seller pay for closing costs.
HUD also has a program where you can purchase a home with $100 down payment for an FHA loan.
This is different than a typical 3.5% FHA down payment.
Many lenders do not work with these programs and will limit your options.
With the FHA loan the seller can pay 6% for closing costs and HUD homes is 5%.
Obviously you have many options to work with.
The best thing is for me to take a look at your financials so i can design a loan that best meets your goals.
Feel free to contact me to put together a few options for you.

Steve Smither
Ardain Mortgage
ssmither@ardain.com
847-942-5151

There's the FHA program that you can purchase a home with 3.5% down.
The seller will pay up to 3% which is enough for the closing cost.
You will have a choice to do a home inspection.
If you decide to do a home inspection that will be paid by out of pocket by you.
As well for the appraisal.
Best bet is to talk to a direct lender like your local bank, credit union, or broker for a firm answer.
Keep us posted with your progress.

Jes Sierra, B.Sc., Realtor®