I specialize in Under 640 Fico Score Loans and offer credit repair at no cost to raise fico scores. Here is a link and a needs list to gather for processing a loan approval. If your fiance's income isn't enough to qualify for reasonable amount, you may choose CHF Access half percent down payment program with a minimum 580 fico score which can also contribute towards your closing costs as well. You can by with minimum out of pocket expenses.
CHF Access half percent down flyer, pdf
Sheryl Arndt, standard needs list checked, pdf
Why Rent brochure
CHF Access income limits http://tinyurl.com/8lzf8he
Sheryl Arndt, Real Estate Broker â€“ Sr. Loan Officer CA only
REO & Short Sale Specialist
20+ Years Experience
A VA Loan is a great financing option for Veterans!
Please contact me with your real estate questions, buying, or selling needs here in Pennsylvania. Also, I will be licensed in New Jersey by the winter of 2013.
Liberty Bell Real Estate
DIRECT PHONE: 215-237-4147
With that, YES! Not only no money down, but all your closing costs may be paid by the lender.
I just closed a transaction for a veteran who not only put zero down, but all his closing costs came as a credit from the lender, in this case me. He actually walked away with $300.
You will be required to put an ernest money deposit down on the property. This is usually 1% of the purchase. Those funds may either be applied toward your closing costs or you may receive all back at the time of close. So, you may be given it as gift keeping in mind you will need to document its origin.
Please feel free to email me any specific questions as I am very familiar with the VA loan process.
Every transaction costs money. While the mortgage is a zero percent down mortgage, you should definitely have some cash at hand. It is wise for you to pay at least some of your closing costs...and you will have to pay for your own appraisal and property inspection. These things do cost money.
Although VA loans are a great option, buyers sometimes have difficulty getting these accepted when bidding against buyers with stronger down payments.
Good luck with your transaction. I suggest you meet with a loan officer familiar with VA loans and explore your options.
Licensed Associate Broker
Accredited Buyer Representative
William Raveis Legends Realty Group
I have lenders who can assist.