Why does it matter who you chose to close the sale of your home?- A lot of people don't know this, but title companies play a vital role in the sale of a home. A title company
You CAN Purchase A Home Without 20 Percent Down
Did you know that you don't always need a bunch of cash or impeccable credit to purchase a home? I'd say that is the biggest misconception of home buyers. It couldn't be farther from the truth and your dream of owning a home may be closer than you think!
I work with a lender that offers a 1% down conventional loan with a credit score of 700 or higher. Don't have a minimum credit score of 700? I work with lenders who can do an FHA or VA loan with a credit score of 600 or higher. Those loans only require 3.5% of the purchase price down. On a $150,000 home that would be $5,250 and some of that can be a gift from family. If you choose the right REALTOR® to represent you in the purchase they can sometimes convince the seller to pay some or all of your closing costs to decrease your out of pocket costs dramatically.
If you qualify, there are down payment assistance programs that you can use as well. They can range from "soft second mortgages" that you only have to pay back in certain instances to grants that never have to be repaid. You might be surprised at what the maximum income requirements are to qualify. I've helped buyers purchase a home with $500 out of pocket! That is less than you can get into a rental for!
If you are interested in learning more just give me a call at (505) 500-4370 to chat for a minute. There's never an obligation!
Regina McKinney is dual licensed, meaning she holds real estate licenses in both New Mexico and Arizona and she actively works in both markets. She is an "outside-the-box" thinker with her finger on t....