Another option for you is what's known as a "kiddie condo loan." Our 20 year old daughter just bought a 175K home in Columbus with this FHA loan. Her father was the co-signer but she still qualified for the $8,000.00 tax credit. You can go the link below for more info on the tax credit. To qualify for the loan she had to be a full time student and have a good credit history. (ie: bills in her name that were paid on time) Talk with a loan officer who specializes in this type of loan for more info. Hope this helps!!
Jo Beth Bryant
First stop is a lender, preferably a local one which has your best interest at heart and their reputation at stake. I am a Realtor in Findlay and can recommend several to you if you need. A USDA loan could be a way to go, and you don't have to live that far out of Findlay to qualify. Just the other side of CR 236 to the east, north of CR 99 to the north, the Liberty Benton school district to the west, or anywhere to the south. In other words just outside of the city limits of Findlay, but not inside the village or city limits of the neighboring towns. Give me a call. I know I can help, but first you must qualify for a loan, and be comfortable with what they tell you the monthly payment will be. Not knowing your complete circumstances you may qualify for a non -USDA loan and we have plenty of nice homes in your price range. My phone is 419-306-1622.
Dana is correct, and the best way to find out exactly where you stand is to have a lender review your situation to see if you can pre-approved. If you would like for me to take a look for you to see where you stand, I would be more than happy to put something together for you. I would only need about 15 minutes of your time to let you know...you can contact me at firstname.lastname@example.org, or you can call me at 216-236-7266. Another program available is a USDA loan which requires $0 down payment, but the home you purchase must be in a rural area, but it's an option worth looking into. I hope to hear from you - thank you for your question!
Sr. Mortgage Consultant