Many mortgage professionals have the knowledge and software and would be willing to explain what you need to do to improve credit as well.
I noticed you are looking to buy in Fairhaven. I have sold several homes in Fairhaven and it is a wonderful town.
If you would like to be put in touch with a fantastic local lender I would be more than happy to make the connection. I would give you the name of a lender I would refer my parents or sister to for financing. I only introduce someone I would personally use or refer my family to for a loan. I know that she would be able to help you with any of the following programs and putting in the time to help get your credit score up.
There are 3 programs for no money down financing -
- MassHousing - if you meet the qualifications financially, there is a 100% financing mortgage loan program available.
- VA loan - You need to be a current or former member of the military, reservist, national guard or a veteran.
- USDA - The USDA has a Rural Development loan and this program has an income limit and is geographically restricted. Unfortunately, Fairhaven is a town that does not qualifies for the USDA program. Of the other towns on the SouthCoast, Fairhaven, New Bedford and Fall River do not qualify. I am fairly certain that all other surrounding communities do qualify.
Good luck in your search. Feel free to contact me if you would like me to connect you or if you have any other real estate related questions.
1) The VA loan - this mortgage program is for military, reservists, national guard and veterans.
2) USDA Rural Development loan - this program is income and geographically restricted. You must meet USDA's income eligibility requirements, and the address of the property you want to purchase must be located in an area where USDA will agree to the mortgage. All of Cape Cod qualifies as well as most areas with a population of 10,000 or less.
3) MassHousing - MassHousing has a 100% financing mortgage loan program available.
Where and what are you looking to buy? I know of a couple condos in Marlborough that are with seller financing. I'd be happy to help if I can.