Home Buying in Conyers>Question Details

Teresa, Home Buyer in Covington, KY

what are the loans for people on fixed income?

Asked by Teresa, Covington, KY Mon Aug 13, 2007

1st time buyer, living on fixed income , looking for different type of loans to purchase home. i am aware of the 1st time buyer program. I think there use to be a loan called farmers or something like that. Any suggestions would be helpful.

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Sharlyn’s answer
LIVING ON A FIXED INCOME IE WIDOWS BENIFITS I LIKE TO BUY A HOME OR RENT TO OWNI NEED ASSSTANCE . ON RENT TO OWN I HAVE NO DOWN PAYMENT. IS THER HELP FOR ME ?I AM UNABLE TO HAVE ANY STEADY JOB . I AM LIMITED ON WHAT I CAN MAKE BUT I LIKE HELP SECTION 8 RENTING OR ASSISTANCE ON DOWN PAYMNT ON OWNING A HOME.
0 votes Thank Flag Link Sun Jun 15, 2014
There are a few options you can consider.

One being the first time homebuyer's program the city offers, which you already know about. Remember, that each city offers different programs so if you decide to buy in another city, look into what specific and unique programs they offer to first time homebuyers.

Two, consider obtaining a mortgage through a program called ACORN (http://acorn.org/ - gives you a good idea of their mission and program availability), they provide some beneficial loans for home buyers.

Three, look into the possibility of a FHA loan for yourself (http://www.fharesearchcenter.com/ - this link gives you some more educational material on the subject).

Four, don't forget to look into a mortgage broker or loan officer, they can help you shop the banks and find you the right program with the right interest rate. Good luck on your mortgage and home buying experience!
1 vote Thank Flag Link Mon Aug 13, 2007
I am answering your question from my Realtor knowledge but would graciously refer you to ask this question to a lender. Yes, there are loans available to individuals on a fixed inccome and first time buyers. There are even 1st time buyer programs available. I believe the operative point would be to qualify based on your income. Good luck with this.
Web Reference: http://pamwinterbauer.com
1 vote Thank Flag Link Mon Aug 13, 2007
Pam Winterba…, Real Estate Pro in Danville, VA
MVP'08
Contact
Do you need a loan to start your business ? Do you need a loan to pay
with your bills ? At the moment we offer Education loan , business loan ,
mortgage, agricultural credit , personal loan , auto loan , etc. , if you
need a loan with specific interest so we can send more information to
You .
Contact us by email....(((joycemyersloancompany@gmail.com)))
0 votes Thank Flag Link Thu Nov 19, 2015
Do you need a loan to start your business ? Do you need a loan to pay
with your bills ? At the moment we offer Education loan , business loan ,
mortgage, agricultural credit , personal loan , auto loan , etc. , if you
need a loan with specific interest so we can send more information to
You .
Contact us by email....(((joycemyersloancompany@gmail.com)))
Flag Thu Nov 19, 2015
where are all the pros and concerned realtors with sincere altitudes to help someone on a fixed income paying 500 or more for rent find a mortgage and knows the programs in Gainesville or Levy county fla where realtor have an uncaring altitude and barely answers less alone do a search or anything else towards home ownership .
0 votes Thank Flag Link Sun Jan 19, 2014
Ellen,
Informative answer! There are several programs out there to work with. The best thing you could do is find a lender you like and get them to do some research. Actually, ask several to look into it for you. If you don't know a lender, this will help you find the one that will best fit your needs!
Web Reference: http://carriecrowell.com
0 votes Thank Flag Link Tue Aug 14, 2007
Like the others I have my recommendations for a great lender to answer this question.

In general, there are several programs for those on fixed programs. Ideally, you want to think about your monthly payment first and then also, your strategy. How long do you plan to live there, How much money are you going to put down? etc.

Once you know that, you can tell the loan person what you need and see if they can help.

Let me know if you need a referral, I'd be happy to refer you.
Web Reference: http://www.jrjarvis.com
0 votes Thank Flag Link Mon Aug 13, 2007
Joshua Jarvis, Real Estate Pro in Duluth, GA
MVP'08
Contact
Call my loan officer, he is really responsive 404-808-3234 Don Guy w/ Amerisave Mortgage
http://www.amerisave.com/partner/dguy
0 votes Thank Flag Link Mon Aug 13, 2007
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