Home Buying in Fairfield>Question Details

Patricia, Home Buyer in Vacaville, CA

I will be searching for a home in the next couple of months. I do have one question. Is there any chance I could get into one of these homes?

Asked by Patricia, Vacaville, CA Mon Jan 16, 2012

I will be searching for a home in the next couple of months. I do have one question. Is there any chance I could get into one of these homes with a 3 % down? Please let me know/ Thank you, Patricia

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Answers

6
Bob Jakowinicz’s answer
Patricia, it would be a good idea to consider sitting down with a local real estate agent who knows your local market well. They will give you the basics you are looking for and should know if your local area offers any other specials that might benefit you (neighborhood stabilization programs, etc).
0 votes Thank Flag Link Thu Jan 19, 2012
Dianne

True, I haven't seen the $100 Hud program in this area either.
0 votes Thank Flag Link Thu Jan 19, 2012
Good information and direction on the advice to consider purchasing a HUD owned home. However, the $100 down program is not available in this area.
0 votes Thank Flag Link Thu Jan 19, 2012
The minimum downpayment for an FHA loan is 3.5%, which also allows a 6% sellers concession.
0 votes Thank Flag Link Thu Jan 19, 2012
I am not certain as to which homes you are inquiring about, but as long as they don't exceed the maximum FHA loan you should be okay. Solano County has a high percentage of transactions completed with FHA financing. Have you spoken to a lender to determine the amount you can borrow, or to find out what you monthly payments woudl be? Let me know if you have more questions. Text me at (707) 580-1585.
0 votes Thank Flag Link Wed Jan 18, 2012
Patricia

Hello, there are still the FHA loan programs out there that have a 3.5% down payment program. But act fast because loan guidelines are getting more strict. They usually require a 640 fico score and a two year job history. If you need to talk to a lender, click my on profile and I can get someone local who can explain the whole process. If you don't have an agent yet, feel free to check out my website at http://www.mygpsagent.com and you can search for homes there. I also have a step by step buying guide that explains from start to finish.

Thanks
Web Reference: http://www.mygpsagent.com
0 votes Thank Flag Link Mon Jan 16, 2012
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