Question Details

Regi Philip, Home Buyer in Queens, NY

What to do about down payment?

Asked by Regi Philip, Queens, NY Mon Jun 9, 2008

I'm very new to the home buying game, and trying to buy a house in Fresh Meadows, NY (11365). The home is going for 600k. My real problem is coming up with a down payment. I have approximately 23k saved up and will be able to pass pre-qual. I have very good credit, and need some alternatives. I looked into FHA loans, but that doesnt seem like it will cover enough of the loan. Any suggestions on where I can come up with the cash (federal programs, grants) or even a way out of the mandatory 10-20% down payment?

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If you are looking in that price range, I doubt you will get a grant for that.
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0 votes Thank Flag Link Tue Jun 10, 2008
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