As a first time homebuyer (in the market), I am curious to know if agents are flexible when dealing with down payments? Is there any flexibility?

Asked by Lauren Queen, Kettering, OH Fri Aug 23, 2013

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Brian Nguyen, Mortgage Broker Or Lender, Mission Viejo, CA
Mon Feb 24, 2014
You should also consider your loan options if you are concerned about down payments. For example, you should look into an FHA loan which only requires 3.5% down which is relatively low. Just shop around with lenders and see what they can do for you.

Hope this helps and good luck!

Brian Nguyen
Sr. Mortgage Banker
NMLS # 659743
Phone: 949.667.2887
brian.nguyen@nafinc.com
0 votes
Darrin Carey, Other Pro, Dayton, OH
Sat Aug 24, 2013
The mortgage will dictate the downpayment. You can write the offer correctly to minimize your out of pocket costs.

To get a good loan, expect 3.5%-5% down. You can often get a lower rate with a larger downpayment. If you use some of the grant programs, you can get a house with less down, but you will pay for it in the long run.

Matt Helpling at Rapid Mortgage is a good resource for you.
0 votes
Doug Wagner, Agent, Beavercreek, OH
Fri Aug 23, 2013
Lauren,

If you would like first-time buyer assistance and advice regarding the home-buying process, please contact me. I will be happy to answer any questions, provide reputable lender contacts and guide you you every step of the way. I work extensively in Kettering and Centerville. BTW, you do not pay for any of these services - which is a great deal.

Doug Wagner
RE/MAX Victory at the Greene
Accredited Buyer Representative
Fists-Time Home Buyer Specialist
937-433-HOME
0 votes
James Gordon…, Agent, Hamilton, OH
Fri Aug 23, 2013
It is not the agents but the banks. In Ohio we do have first time buyer programs where you can get a grant from the State for a little higher interest rate.
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