Hi Wija

Find yourself a great mortgage advisor and ask about FHA and USDA loans - surprisingly most of Connecticut qualifies for USDA financing.

You will need to get pre-approved before any agent will take you out looking for homes that you can afford to purchase, plus, you will also be in a position to put in an offer immediately on a home that you like.

Good luck and if you need any further information please do not hesitate to contact me

Anne

Wija, my client just closed on his house and at the closing he got his deposit given back to him. This is called a CFHA loan. Call me anytime - we can help you.

YES lending changed approx. 4/08 requires buyers have at least 3.5% or more as a down payment based on credit scores, debt ratio, many other factors.

100% finance is "thing of past"

You receive annual tax benefits owning a home,

National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
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Lynn911

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You would need to get pre-qualified for either an Urban Housing loan, CHFa loan or Va. If you would like to see if you qualify let me know. Your credit scores need to be a minimum of 620 or better to purchase.

Are you a veteran or unmarried surviving spouse of a veteran who died on active duty (or of a service related disability?) If so, you may also qualify for VA financing, it's is also a no money down offering. Check the VA's website for info.

FHA financing is out there with 3.5% down (for qualified buyers).

There may be some programs available in your area that provide for 100% financing, such as the Rural Development programs. These are for more rural areas and you can find out what is available in your area by searching online.
Today's mortgage market requires a down payment in most cases. If you qualify and the home will qualify, you can purchase with an FHA loan with as little as 5% down. it is a good idea to talk to a lender that has these programs available to see if you qualify.

Debra Davis http://www.FindAtlantaHomes.com

Wija,

If you are seriously considering purchasing a property your position would be one of more substance with a purchase contract accompanied by a deposit, a letter for pre-approved funding, and an aggressive closing date.

Offers are sometimes written in a manner that allows a deposit to be submitted after the purchase contract is agreed to. Some agents and their sellers refuse to consider an offer without a deposit accompaning it, considering it an insincere effort.........