I would reccomend what is called a rural development loan. I do know of a great mortgage company that I have had other clients use: Michigan United Mortgage (MUM). If you need more information regarding them i would be more than happy to help you out with that or any other real estate needs.
One of the most popular loans out there right now for buyers in you situation seem to be the rural development loans. You can e-mail me and I can certainly point you to some very honest and straight forward lenders in the Howell area.
There are lots of good reasons to choose an FHA-insured loan, especially if one or more of the following apply to you:
You're a first-time homebuyer.
You don't have a lot of money to put down on a house.
You want to keep your monthly payments as low as possible.
You're worried about your monthly payments going up.
You're worried about qualifying for a loan.
You don't have perfect credit.
If any of these things describe you, then an FHA-insured loan may be right for you. Why? FHA-insured loans offer many benefits and a level of security that you won't find in other loans including:
Low cost: FHA-insured loans have competitive interest rates because the federal government insures the loans for lenders.
Well, you've come to the right place for answers. There are rural loans that offer very attractive down payment options. Also, if you're a first time home buyer there is a new $7500 tax credit from the government, plus FHA is doing some adjusting to their requirements. It's a great time to buy. I have several excellent mortgage contacts for you and I'd be more than happy to assit you in your home search when you're ready.
Feel free to visit my website at: http://www.ClickThisHome.com where you can search the same list of homes that Realtors use to search for homes for their clients. My website allows you to save your favorite searches as well as favorite homes for future reference.
Drop me a line if you'd like more info or just visit my website.