Question by Bianca P: What is the government programs for first time home buyers with low income in Alabama?
I’m interested in purchasing a home for the first time and I’m hearing there’s many options for low income first time home buyers. I just would like to know what are the steps and who to talk with first. I’m in an apartment and I want out so I need a house ASAP.
Best answer:
Answer by Bill
Most of the government programs have expired but you can check with HUD or Pathways to see if you qualify.
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Question by Cellen: What is the best bargain in purchasing a home? I have no money to put down and bad credit with a new job.?
I am desperate to stay in our school district for my kids sake. I am desperate to leave my situation away from my boyfriend, price also; for my kids sake. I now have bad credit (most is 5+ yrs old) and just started a descent paying job that will become commission based. I feel that purchasing is smarter than renting. So, viagra buy I wonder if one has to have good credit, job stability, and/or money down to purchase a home. Or which is most important? I am working on all of the above and obviously it takes time. So, I need to figure out the best first, second, third and so on, move.
Best answer:
Answer by gabluesmanxlt
Feds have a program run thru HUD that gives single Mom’s grants – up to $ 30,000 to put down on a first home purchase. Contact your congressman’s local office (they REALLY will help you – don’t sweat it) and see what’s available in your state.
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Hi,
Credit, job stability, and money down are all factors that the mortgage lender would consider when reviewing your mortgage application. Usually for credit score below 620, you can go to so called “sub-prime” lenders, which lend money to people with not so perfect credit score.
Depending on which lenders that you go to, some will have programs that allow you to buy a house with no down payment (100%) financing. Also, check with your local HUD (Housing Urban Development) office about what kind of grant or programs they have for 1st time homebuyers.
Lastly, I would suggest that you go to a mortgage broker to have them figure out what types of loan program is best for you. They do charge you a fee (so call Points) for their service if your loan does go thru. But, given your financial situation, I would suggest you go to one and listen to what they have to say. Then compare with what they told you with a local mortgage lender where they can also give you some advice.
Good luck.