Home Buying in 04276>Question Details

Jess Valley, Other/Just Looking in rummford me

how long is the waiting list?

Asked by Jess Valley, rummford me Tue Feb 17, 2009

we are allready on section 8 and are interested inbuying a home

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2
Section 8 applies to rental, not home buying. Our local banks have many programs to help people get into homes with assistance, either with the loan program or the seller.
0 votes Thank Flag Link Wed Feb 18, 2009
Section 8 is a rental subsidy program..it is not intended to assist in home purchase. if you have a good income,2 year work history and sufficient funds to cover down payment,closing costs,taxes,insurance & home maintenance you need to contqct a reputable local mortgage broker to find out if you can qualify for a home loan. FHA will require a 3.5% down payment & not is FICO driven,but a conventional loan will require at least 20% down & good credit.
0 votes Thank Flag Link Tue Feb 17, 2009
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