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Mass Housing, VA, and USDA
If you are financing a property, how much you put down depends on many factors: The property itself, your credit worthiness, and where you are buying.
If the property is FHA approved, you may buy with as little down as 3.5%.
This is your best bet, unless you qualify for some special program sponsored by the federal government: VA, USDA, etc.
No foreclosures, No REOs.
You could potentially buy a home with ZERO down if you qualified for a VA Loan (aka- you are a Veteran)... OR, if you bought a home that was in a rural area. USDA Rural Development loans provide 100% financing for homes bought in specific areas. Mass does have quite a few towns that qualify.
You could also get into a home with 3.5% down through an FHA Loan. These are VERY popular with First Time Home Buyers. And seeing as a seller can contribute up to 6% of your closing costs... you could potentially get into the home with NO money out of pocket!
I work extensively with Fist Time Home Buyers, helping them navigate the waters and obtain them the best loan for their scenario... so if you have any questions or want to see what you qualify for... please feel free to contact me. All my info can be found @ http://www.LendWithScott.com.
617 233 9651