Home Buying in New Bern>Question Details

Dbrayboy71, Home Buyer in Grantsboro, NC

Looking for 100% financing for a home

Asked by Dbrayboy71, Grantsboro, NC Fri Aug 10, 2012

I am in the market to buy a home i dont have any money to put down and my credit score is a 640 been working with the city for two years now can someone help me im tired of paying rent and want my money go to something i am going to own.

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USDA is a 0 down loan program and I would think that there would be a lot of properties that would qualify for USAD in NC. If I were you I would call Sonja tomorrow and ask her about this. Good luck.
1 vote Thank Flag Link Fri Aug 10, 2012
Thanks john i called the creditor to ask them to report to all three agencies but they only have a contract with equifax so i am screwed on the other scores i really dont wanna open up another loan but i wish usda would over look the other scores.
0 votes Thank Flag Link Mon Aug 13, 2012
Thanks Cindy. The issue was not with locating homes eligible for USDA it was the different lenders and different requirements they all mentioned. We found Miriam Willis was unable to roll the closing costs into the loan which was not mentioned anywhere else as something that USDA set for a guideline but rather must have been something First South Bank has set. for standard. The banks also were requiring 10% down which I can only figure was due to credit score being too low but not sure about that. In any event we are working through it and appreciate your response.
0 votes Thank Flag Link Mon Aug 13, 2012
You can get 100% financing for homes that are located in the USDA areas. These areas are outside the city limits. Your real estate agent can give you a map that shows the USDA areas.
0 votes Thank Flag Link Mon Aug 13, 2012
David! Did you ever call Pam or get any additional info from SECU. I am confident we can make one of these work for you so we can jump on Pate Road. Let me know when you hear something and I am here waiting for you. It has been a pleasure working with you and looking forward to getting you into that perfect home as soon as possible! Talk with you soon my friend!
0 votes Thank Flag Link Sat Aug 11, 2012
I tried to go through usda once but they are telling me that i need at least two credit scores. All that i have right now is an equifax score of 640 but i have no credit score for transunion or experian. Is it still possible to get financed through usda i already found a home that should be usda qualified i just need the home loan to help me get it i was approved tbrough my bank for 90% but dont have any type of money to put down.
0 votes Thank Flag Link Sat Aug 11, 2012
Good decision to buy now-great rates are still available. You can own a house for the same amount as you are paying in rent. Pinecrest Estates off Neuse Blvd. near Bosch qualifies for 100% financing with BB&T and offers new construction homes from $134,900. One just sold for 100% financing.
Call me for a tour or more information. Elaine Hiner, Coldwell Banker Willis-Smith Company, 670-0706.
0 votes Thank Flag Link Sat Aug 11, 2012
River Bend and Fairfield Harbor both qualify for USDA financing, for example. I recommend you call Chris Schneider at First Citizens Bank. I had a closing just yesterday, 100% USDA financing arranged by Chris. Her cell is 252-474-9300.
0 votes Thank Flag Link Sat Aug 11, 2012
I will be working tomorrow morning. Give me a call and let us see how can we get you in to your own home before Christmas.

0 votes Thank Flag Link Fri Aug 10, 2012
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