If you go through FHA, than yes you will need to put a minimum of 3.5% of the sales price. The USDA loan requires no down pymt but it is only in rural cities. Another option would be assistance w/ your down pymt. The City of Dallas offers a program where they will assist homebuyers w/ down pymt and/or closing costs. Qualifications are based on income and debt-to-income ratios.
Please feel free to call or email me if you need any assistance.
Make it a Blessed Day!
Tamika Turner, New Homes Specialist
Hendrickson Realty Group
Cell: (972) 697-1178
Fax: (682) 222-1049
1. 2 year employment
2. 3.5% down payment UNLESS you are a veteran
3. Debt / income ratio in balance.
Contact a lender review your financial files determine if you can qualify for a home loan
Keep in mind you have to have additional money for
1. Option fees
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
Keller Williams Realty
Good Luck and Happy House Hunting!!
http://www.myfirsttexashome.com start there. also... try this person Sandy Haley 2146165556 she is a senior loan officer and she can help you with a mortgage, MCC and the like.
I can also help you if you desire. Just email me or look me up. I enjoy working with first time buyers and will do my best to help you with the process.
Thanks for your time