Home Buying in 19454>Question Details

Jenn Chambers, Home Buyer in Telford, PA

Hi! I'm looking for homes/town homes and found a couple that interest my fiancé and I. We currently rent and pay close to 1800 a month. We know we

Asked by Jenn Chambers, Telford, PA Sat Sep 1, 2012

Can afford what we're interested in but we have no down pmt. What are our options?

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8
Glad we could help Jenn!

If you haven't already gotten connected with a Realtor to take you out to see some properties, let me know, I'd love to help you and your fiance look for your home!

Rebecca Utermohlen
REALTOR
Coldwell Banker Realty Corp.
rutermohlen@cbrealtycorp.com
Office: 215-855-5600 ext. 138
Cell: 215-896-1935
0 votes Thank Flag Link Sun Sep 2, 2012
WoW! Thanks everyone for your feedback! Until today we didn't know anything about USDA. We thought we were just stuck waiting out hard earned dollars on renting. Hopefully we will get what we're looking for, :)
0 votes Thank Flag Link Sat Sep 1, 2012
Jenn-

I would recommend talking with a mortgage specialist who can review all of the financing options that are available to you. Tell them about the type of property you are interested in, and they can see what your best options are.

Once you have secured financing, I would be happy to arrange showings of properties that fit your needs!

Joshua Stein, REALTOR®
Coldwell Banker Preferred - Conshohocken
jstein@cbpref.com
Office:(610) 828-9558 * Cell:(215) 866-8030
Direct:(484) 270-1165 * Fax: (215) 999-5894
PA License #RS317975

If you know anyone who needs help buying, selling or renting in the next 90 days, give me a call so I can help them meet all of their real estate goals.
0 votes Thank Flag Link Sat Sep 1, 2012
Hello jenn,
USDA does 100% financing. Also PHFA has down payment asstance. Montgomery County also has a down payment asistance program. So you do have options depending on where you are buying. I'd be happy to go over them qith you.
Alan Openshaw
Cornerstone Lending Inc
267 992 7276
MLS I'd 143960
0 votes Thank Flag Link Sat Sep 1, 2012
USDA is primary financing option and limited qualification area; that area could be further modified Fall '12. Gift money and FHA possible 2nd option. Irrespective of either option, max seller's assist would be necessary to cover the soft costs. Good Hunting!
0 votes Thank Flag Link Sat Sep 1, 2012
Hi Jenn!

A USDA mortgage would be a GREAT option for you. You don't have to pay any down payment, and you can even factor your closing costs into the mortgage (if you can't get a seller's assist at settlement). Also, the monthly mortgage insurance is MUCH cheaper than it is with a FHA mortgage.

I'd love to take you out to see some of those houses you found! Even you tell me what you are looking for I'd be glad to email you some more that match your criteria.

I also work with a great mortgage lender who can help explain the USDA mortgage a little more.

Shoot me an email or give me a call and we can talk it over more!

Thanks,
Rebecca Utermohlen
REALTOR
Coldwell Banker Realty Corp.
rutermohlen@cbrealtycorp.com
Office: 215-855-5600 ext. 138
Cell: 215-896-1935
0 votes Thank Flag Link Sat Sep 1, 2012
Jenn,

I would recommend the USDA 100% financing program. No down payment needed!. Learn more about this program at my website: http://www.michaelsrealestateblog.com/buyers/mortgage-progra… There are income restrictions as well as area restrictions which I would be happy to go over with you. This is possible, here is proof! http://www.michaelsrealestateblog.com/blog/buyer-purchases-h… Call me with any questions.

Michael Torres
RE/MAX Reliance
215-275-2009
http://MovingInMontco.com
Michael@movinginmontco.com
0 votes Thank Flag Link Sat Sep 1, 2012
Jenn,
Your first option should be to talk with a loan officer. They can review everything with you and you can see where you stand in regard to purchasing. Your best option may be FHA which requires 3.5% down and you can ask a seller for assistance with the remaining costs. If you have any questions on anything I will be happy to answer, have a great weekend. Regards,
0 votes Thank Flag Link Sat Sep 1, 2012
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