I wrote this blog a few weeks ago As of today, this program has been discontinued. There are still legal creative ways to buy a home. Call me for details. The banks are getting tougher on approvals now. They are in fear of making bad loans due to the high nubber of foreclosed homes.
There are other types of financing available, but 100% is just about gone now. Don't despair, where there is a will, there is a way, minimum 3% down is the protocol now.
This past week, a representatived from MASS Housing gave a presentation on the many loan programs available. As it turns out there isn't as much "red tape" as one would think.. Mass housing is a quasi state organization that does not receive tax dollars for funding. Mass housing has 97% to 105% loan programs.
Mass housing is not just for low income households! The representative indicated one of several programs with income limits of up to $100,000!! She also indicated that credit scores could be as low as 620!
Interest rates are in the 5's now.
If you are looking to buy, it is the perfect storm. Don't procrastinate. Rates are low, prices are low. Each will increase.
Now is the time!!
Call me today to learn more about financing your new home and to help you find the home of your dreams.
Thank you for viewing my blog.
Lori Lincoln, Realtor/Partner- Keller Williams Realty
Lincoln Team Real Estate sells homes and has homes and real estate for sale in Bristol County MA and surrounding towns such as Taunton, Dighton, Assonet, Berkley, Raynham, Rehoboth and others