There is more stuff than you an shake a forest at! Besides the 203k, and first time buyers stuff. There are all kinds of government grants and programs if you want to go search them all out yourself.
Right now, if you have had a bankruptcy, instead of waiting seven years out it is two years. If you use to have to have a 680 plus credit score, now you can get away with a 585! You will need more down, but, beats renting...
I don't know if I can put a plug in, but, with over 18 different banks, this place called the Mortgage Specilist is prop one of your better places.... more
Offer cash at closing. Most prom notes are double the amount that a lender will take if it's cash at closing. There could be many reasons why they are asking you for a promissory note. 1) do you have MI on the loan. If so, the MI company needs to cover it's deductible. Most NH housing loans have MI, so many times a NH housing loan will seek cash or a prom note at closing. 2) is the lender seeing some amount of money on hand?? If so, they will look for a prom note at closing 3) do you have a considerable hardship?? If the lender feels you don't have a strong enough hardship, they'll ask for a prom note at closing.
Keep in mind prom notes are UNSECURED notes, and usually don't have interest. My suggestion would be to start with a cash offer at closing. Even $500 is an attempt. We've had luck offering even less than half of what they wanted in the form of a promissory note.
Maryann Little, VP Mitigation
You should be able to go to the nashua city hall and pull up the tax map. You can also search NHdeeds.com for a copy of the mortgage and addendum that lists the exact dimensions of the lot. I hope this helps.... more