There are programs with very little out of pocket expenses
For example USDA does 100% financing. However USDA is not available in Southampton. There is a USDA map that tells you where you can buy. In our area, it is available North of Almshouse rd and East of York Rd and then wrapping arround the North of Doylestown and towards Sellersville. You can do a PHFA loan where the Pennsylvania Housing Finance Agency lends you the minimum down-payment of your FHA or conventional loan. Also Montgomery County has a program whereby they will lend you the down payment also. There is no similar program in Bucks. All of these programs are good but there are certain upfront costs (such as PMI and Guarantee fees) thast can be avoided depending on your situation. I would be happy to sit down and discuss this with you. My office is at the corner of Street Rd and Second street Pike.
Cornerstone Lending Inc
Southampton Pa 18966
215 953 0800
cell 267 992 7276
VOTED BEST IN BUCKS 2010 & 2012
NMLS ID 143960
Keep in mind that the USDA loans are typically for more rural areas. VA loans mandate that you are a Veteran.
Here are some other options: PHFA (PA Housing Finance Agency) still has some assistance programs and some municipalities and counties have grant programs. It will be based upon your income and credit and you may have to spend a few hours in a counseling program but it is certainly worth it.
Here is a great link for first time buyers: http://www.yourtopagent.info/163360/mega/1st-time-buyer/
If you would like some additional information, don't hesitate to ask me. Good luck with everything.
Carol Cei, Realtor, ePRO
ReMax Platinum Club
Five Star Professional
ReMax Action Realty
I agree with all of the agents who have answered so far. There are many ways to buy a home for little or no money of your own so you can invest your cash to make improvements. I would need more information from you in order to help you find the best home for you. Feel free to call or email me so we can arrange to get together and find out what type of home you are looking for and what areas are best for you.
Long & Foster Real Estate
You have some great answers below. Lender credits + seller assist can lead to some very inexpensive home purchases these days!
You can set up a search on my website for properties that fit your needs and be updated daily as to new listings as they come on the market. The website is http://www.kimberlyrock.com
I'd love to discuss this further with you.
have your spoken with a mortgage lender? I can direct you to a few to discuss mortgage options that fit your needs. FHA USDA and VA loans are the mortgage types that require the leasst amount of down money. Again, you must qualify for either. Please contact me if you'd like additional information. I'd be more than glad to assist you. Please check out my website.
Frank Dolski MBA, ABR, e-PRO
2010-2011 Coldwell Banker International Presidentâ€™s Circle Award Recipient
CARTUS & SIRVA Certified Relocation Specialist
Previews Luxury Home Specialist
Coldwell Banker Hearthside Realtors
Hope to hear from you soon,
Any questions just ask.
There are ways to do that. Aside from different mortgage programs, we can also ask for some assistance from the seller for closing cost. I would be happy to explain, in detail, what your options are. Feel free to give me a call.
Lisa Yoskin ABR CRS
Coldwell Banker Hearthside Doylestown
215 340-3500 x189
Eric Axelson, Associate Broker
Kurfiss Sotheby's International Realty