The days of no money down FHA home purchase loans appear to be numbered. Currently a home buyer can get an FHA loan that covers 97% of a home purchase price and then get a seller-paid 3% grant via non-profit companies like Ameridream. That grant program is about to get the kabosh as one of the compromises required to pass the new housing bill. Here is an article on it. If you know anyone who is looking to purchase a home and would like to do so with no money down have them contact us right away. Coming very soon they will need to bring at least 3% out of pocket for home purchases.
Comments Off on Goodbye to 100% home purchase financing through FHA Posted by G.R.A. Admin on Tuesday, July 22nd, 2008