I suggest contacting my friend, Rodney Anderson at Rodney Anderson Lending Services. 1-800-express or 972-985-5208. He has a great seminar coming up in Dallas this Summer called 'Saving your Financial Life', which we just attended earlier this month in Fort Worth. As a result of that seminar in Fort Worth, we are now working with people who didn't think they could qualify to buy a home, and we put others on the path to get there in the next 6-24 months. http://www.rodneyanderson.com is the website.
Have a blessed day!
Ronda Allen, Realtor, Certified Purchasing Manager
Keith Dobbs Team at RE/MAX Dallas Suburbs
3.5% down is the minimum these days.
I know a lot of people are taking a loan against their 401k and paying off that loan with their $8000 tax credit. Loan programs will also take a gift from a family member as acceptable funds for down payment.
First things first!! Get pre-approved with a Mortgage Lender and see where you stand.
Let me know if I can answer any follow up questions!
You would be required have 3.5% or more as a downpayment based on your credit scores and type of loan.
Recommend for you contact a mortgage discuss your options. You will need 2 years worth of income or employment status of 2 years.
Good luck now is a great time purchase a home interest rates are low.
National Featured Realtor and Consultant, Mortgage Loan Officer, Lecturer regarding Credit Repair