As far as financing is concerned, your best (and only) option is Mass Housing. Salem Five Bank is one of the top lenders in the state year after year. Call me for details. 781-389-8026.
Salem Five finances more purchases than any other Massachusetts Bank.
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we work with many first home buyers and there are also programs for downpayment assistance for first time home buyers. Also, did you have any specific questions about this property?. It is a short sale which could take sometime to close, be sure you get someone to represent you that understands the process of short sales (you can read about short sales on my website). If we can be of assistance you can emails us at email@example.com. Good luck
There are many first time home buyer programs available, including a new MassHousing (3% down) and FHA (3.5%) down. If you are a veteran you can qualify for a zero down mortgage through the Veteran's Administration or MassHousing. There are also down payment assistance programs available through many towns where they will match the money you put down on a property. Income restrictions apply.
Many mortgage programs allow a relative to give you the money for a down payment. If you have a retirement account, you can sometimes use those funds. You can search for down payment assistance at:
The best thing you can do is to find yourself a knowledgeable experienced buyer's agent who can point you in the right direction for down payment assistance... and a lender. That's what their job is (among helping you with many other things), and it doesn't cost anything for their services.
You could also get into a home with 3.5% down through an FHA Loan. These are VERY popular with First Time Home Buyers. And seeing as a seller can contribute up to 6% of your closing costs... you could potentially get into the home with no money out of pocket. The down payment can also be "gifted" from a family member.
I work extensively with Fist Time Home Buyers, helping them navigate the waters and obtain them the best loan for their scenario... so if you have any questions or want to see what you qualify for... please feel free to contact me. All my info can be found @ http://www.LendWithScott.com.