Home Buying in York>Question Details

Mbosenbark%4…, Home Buyer in

what are the contingencies for 100% financing on home? What determines the qualifications for buyers to qualify? Can any home be 100% financed?

Asked by Mbosenbark%40gmail.com, Thu Nov 29, 2012

First time home buyers in York, PA. Fair-Good cedit sores.

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John is correct with his info and I want to add another thing, you also need to qualify financially with USDA. They have income limits according to how many are in your household. So first you need to qualify and make sure you don't make too much money and not all lenders can do a USDA loan. Wells Fargo is one that does and I have sold several USDA homes since I have been in business. Just be careful with the companies that say "bad credit okay" and "we will finance" on some of the houses for sale in York Co. They charge really high rates and if you miss a payment, they take the house back and you lose all the money you have invested. Get a good buyer's agent and they can help you with finding the home that qualifies and finding the lender you can trust. Contact me and I would be happy to help you.
0 votes Thank Flag Link Fri Dec 14, 2012
I would also suggest reading the fine print on the loan documents. Good luck to you!
0 votes Thank Flag Link Thu Nov 29, 2012
The best thing to do is contact your lender or mortgage broker and see what financing is available to you.
0 votes Thank Flag Link Thu Nov 29, 2012
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