There are two programs that can assist you with the purchase of this home.
The first being the FHA program spoke about before. This would allow you to only put down 3.5% down but your daughter must be on the home loan with you. As long as she has qualifying credit scores, this should be ok.
The other program would be to look for fannie mae or freddie mac owned homes. To get these homes off their books, they offer special terms of financing on them. 10% down and there is no mortgage insurance as well. Find Fannie Mae & Freddie Mac owned homes by clicking the link.
I would be happy to help you with your financing. Our company Residential Finance Corporation is a National Direct Lender with access to some of the industries lowest possible rates and more importantly service second to none. We close loans on average in about 18-20 days start to finish. We underwrite and process your loan in house so you are informed every step along the way.
I look forward to hopefully hearing from you.
Joshua A. Lerette
Senior Loan Officer
Residential Finance Corporation
800.930.7334 Ext. 1108 â€“ Toll Free
813.402.4637 â€“ Direct Line
727.488.7355 â€“ Cell
888.692.5967 â€“ Fax